Lower-of-cost-or-market

a. is most conservative if applied to the total inventory.
b. is most conservative if applied to major categories of inventory.
c. is most conservative if applied to individual items of inventory.
d. must be applied to major categories for taxes.

Answer: c. is most conservative if applied to individual items of inventory.

Business

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In the point method of job evaluation, ______________ represent the traits and responsibilities that exist across jobs, for which the company is willing to pay, and that are needed by the firm to achieve its goals.

a. comparable factors b. compensable factors c. wage factors d. broad factors

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A taxpayer whose spouse recently died is most likely to use the ____________ filing status.

A) single B) married filing joint return C) married filing separate return D) head of household E) qualifying widow or widower

Business