The service delivery system is composed of

Shipman, Inc. has 7 units in inventory on December 31. The units were purchased in November for $190 each. The price lists from suppliers indicate the current replacement cost of the item to be $186 each

What is the effect on gross profit if Shipman values its ending merchandise inventory using the lower-of-cost-or-market rule? A) The gross profit would increase by $4. B) The gross profit would not be affected. C) The gross profit would decrease by $28. D) The gross profit would increase by $28.

If both an older and a younger person had annuity funds of the same amount and simultaneously began to receive monthly life payments, which individual would receive the larger payments?

A) Both would receive the same amount B) The amount of the payment is based on the purchase date of the annuity C) The younger person D) The older person