Business, 08.09.2020 14:01 Madisonk2980
Which of the following is false regarding the FIFO inventory method?
A. FIFO under a perpetual inventory system results in the same cost of goods sold as FIFO under a periodic inventory system.
B. A company can choose to account for the flow of inventory using the FIFO method even if this doesn’t match the actual flow of its inventory.
C. Perishable goods often follow an actual physical flow that is consistent with the FIFO method assumptions.
D. All of the other answer choices are true.
Answers: 3
Business, 22.06.2019 01:00
Suppose that hubert, an economist from an am talk radio program, and kate, an economist from a nonprofit organization on the west coast, are arguing over government bailouts. the following dialogue shows an excerpt from their debate: kate: to recent financial crises, the concept of bailouts is a hot topic for debate among everyone these days. hubert: indeed, it’s gotten crazy! a government bailout of severely distressed financial firms is unnecessary because free markets will properly price assets. kate: i don’t know about that. without a bailout of severely distressed financial firms, the economy will experience a deep recession. the disagreement between these economists is most likely due todifferences in scientific judgments . despite their differences, with which proposition are two economists chosen at random most likely to agree? business managers can raise profit more easily by reducing costs than by raising revenue. central banks should focus more on maintaining low unemployment than on maintaining low inflation. employers should not be restricted from outsourcing work to foreign nations
Answers: 3
Business, 22.06.2019 09:50
phillips, inc. had the following financial data for the year ended december 31, 2019. cash $ 41,000 cash equivalents 75,000 long term investments 59,000 total current liabilities 149,000 what is the cash ratio as of december 31, 2019, for phillips, inc.? (round your answer to two decimal places.)
Answers: 3
Business, 22.06.2019 11:20
Mae jong corp. issues $1,000,000 of 10% bonds payable which may be converted into 10,000 shares of $2 par value ordinary shares. the market rate of interest on similar bonds is 12%. interest is payable annually on december 31, and the bonds were issued for total proceeds of $1,000,000. in accounting for these bonds, mae jong corp. will: (a) first assign a value to the equity component, then determine the liability component. (b) assign no value to the equity component since the conversion privilege is not separable from the bond.(c) first assign a value to the liability component based on the face amount of the bond.(d) use the “with-and-without” method to value the compound instrument.
Answers: 3
Which of the following is false regarding the FIFO inventory method?
A. FIFO under a perpetual inve...
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