Blogs can help companies to accomplish all of the following EXCEPT
A) offering a vehicle for conversations with stakeholders.
B) maintaining corporate transparency.
C) reducing the amount of time and resources devoted to communication.
D) providing a human face to the organization.
E) communicating about important issues.
C
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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.
Under the completion-of-production basis, companies recognize revenue when agricultural crops are harvested since the sales price is reasonably assured and no significant costs are involved in product distribution.
a. true b. false