Answer:
A. True.
Explanation:
Companies can and often do use different costing methods for financial reporting and tax reporting. The only exception is when LIFO is used for tax reporting; in this case the IRS requires that it also be used in financial statements.
LIFO assigns the highest amount to cost of goods sold - yielding the lowest gross profits and net income , which also yields a temporary tax advantage by postponing payment of some income tax.
Answer:
Please ask study related questions,mate.
Yes, email would be a good choice of telling an employee that his/her sales have not been good.
As just sending a simple email is easy, fast and efficient and it gets the word to that employee as quick as possible
The three activities that are part of the function of accounting from the list of given options are:
- 2. classifying financial transactions
- 4. interpreting financial transactions
- 5. recording financial transactions
<h3>What is Accounting?</h3>
This refers to the term that is used to describe the process of recording financial transactions and also classifying them into proper categories for record purposes.
Hence, it can be seen that from the list of answer choices, when it comes to the area of accounting, three core functions from the list are given above and one of them is classifying financial transactions
Read more about accounting here:
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Answer: conclusions for each option studied
Explanation:
A recommendation report is a report that is used to propose solution to a particular problem; then, the best solution will then be chosen after the solution has been proposed.
We should note that before a solution is proposed, the first thing to do is to identify the problem in order to know the root cause of what's happening. Then, a conclusion will then be made for the options that were studied.
