The burden of proof in a negligence case is the same as in a contract law case

When a company uses LIFO for external reporting purposes and FIFO for internal reporting purposes, an Allowance to Reduce Inventory to LIFO account is used. This account should be reported

a. on the income statement in the Other Revenues and Gains section. b. on the income statement in the Cost of Goods Sold section. c. on the income statement in the Other Expenses and Losses section. d. on the balance sheet in the Current Assets section.

Why are industry standards so important in high-tech markets?

a. They restrict customer options, enhancing the odds that a firm will gain sales. b. Standards reduce customer fear, uncertainty, and doubt, and thus, can help to grow the market, which is particularly important for products with network externalities. c. The availability of complementary products is large determined by the number of competitors in an industry. d. Because intellectual property rights are difficult to enforce. e. All of the above.