FIFO stands for First In First Out and LIFO stands for Last In First Out.
Answer: LIFO produces more favorable cash flow because LIFO PRODUCES LOWER INCOME TAX EXPENSE.
During inflation, LIFO approach is adopted for tax benefits. With the rise in prices, LIFO produces higher cost of sold amounts of goods.
Answer:
b. could be low because people might adjust their expectations quickly if they found anti-inflation policy credible
Explanation:
In the given situation, it is mentioned that the rational expectations proponets said that the sacrified ratio would be lesser as the people wants to adjust their expectations in a fastest way in the case when they found that the anti-inflation policy is credible
Therefore as per the given situation, the option b is correct
Answer:
d. Special damages
Explanation:
Special damages -
It refers to as a some particular type of damages that occurs because of the violation of some contract or rule , is referred to as a special damage .
In case the rule is not followed or the contracted is violated , then special damages are applied .
All the covers for the special dam,age is pre- decided and is mentioned in the contract .
Hence , from the given scenario of the question ,
The correct answer is d. special damages .
Answer and Explanation:
There is no contract between Time's and Joshua, because it is not legally binding to each other and it has not been signed by either party. So not a single party is liable for the contract as the contract is unsigned and non-liable
Time has used it as a promotional means only for promoting magazine subscriptions.
Therefore, a case can not be built on letter-based basis.