The LIFO conformity rule requires that if a company uses LIFO in reporting income to stockholders, it also must use LIFO on its tax return

The accounts receivable turnover ratio indicates whether a company could pay all its current liabilities if they were to become due immediately

Indicate whether the statement is true or false

The breakeven point is the point where the sales revenues are equal to the total variable costs plus the total fixed costs

Indicate whether the statement is true or false