In a period of rising costs, the last-in, first-out (LIFO) method results in higher cost of goods sold and lower net income than the first-in, first-out (FIFO) method

An auditor ordinarily uses a working trial balance resembling the financial statements without notes, but containing columns for

a. Cash flow increases and decreases b. Risk assessments and assertions c. Reclassifications and adjustments d. Reconciliations and tickmarks

The security market line

A) is negatively sloped. B) shifts in response to changing inflationary expectations. C) does not respond to changes in investors' willingness to bear risk. D) does not respond to investor expectations about political stability. E) always has a slope of one.