Answer:NO, he his not correct
Explanation:
The fifo and lifo method are only a method of managing stock which means the earliest stock are issued out first in FIFO and last stock are issued out first in LIFO.
Either do not have a predictable advantage over the other in determining net income.
Computer, desk, legal/incorporation fees, roof, they all are already paid expenses that can be used without limitation, at least in the same year, as are legal/incorporation fees, the others such as computers, desk and ceiling are expenses that will not be made again in some time, except for one particular situation.
Answer:
C
Explanation:
In a job order cost system, costs are assigned to each job or batch.
A job may be for a specific order or inventory.
Product cost are traced to individual inventory items and manufactured to order. Cost records must be maintained for each distinct product job.
A key feature to identify it is that each job or batch has its own distinguishing characteristics.
The objective of the system is to compute the cost per job.
Measures costs for each job completed, not for set time periods.
Typically used by companies that make unique or special order products, such as customized publications, built in cabinets, or made to order draperies.
Answer:
The value of an investment opportunity you pass up in order to take another investment opportunity
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