States may pass their own exemption laws, which may be either mandatory or optional for

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

Courts are permitted to order a new election in case of fraudulent proxy solicitation

Indicate whether the statement is true or false