Advantage of LLC is its flexibility in regard to _________.

Fill in the blank(s) with the appropriate word(s).

Ans: taxation

Business

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Which of the following statements is true of inflationary periods?

a. averaging reports a higher inventory balance than FIFO b. averaging reports a higher net income than FIFO c. LIFO reports a higher inventory balance than FIFO d. FIFO reports a higher gross profit than LIFO e. LIFO reports a higher net income than FIFO

Business

If the accord is performed, it is called a satisfaction

Indicate whether the statement is true or false

Business