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jasenka [17]
2 years ago
10

Which of the following statements regarding inventory costing methods is correct? Multiple Choice In periods of inflation, LIFO

will result in the lowest reported net income, and therefore a company will pay less in federal income taxes
Business
1 answer:
Lynna [10]2 years ago
3 0

Answer:

In periods of inflation, LIFO will result in the lowest reported net income, and therefore a company will pay less in federal income taxes ⇒ TRUE STATEMENT

Explanation:

Last in, first out (LIFO) uses the  price of the last units purchased in order to determine the cost of goods sold. When inflation is high, prices tend to increase continuously, therefore, the price of the last units purchased will always be higher than the price of the first units purchased. This doesn't mean that exactly the last units purchased will be the ones sold, it is just an accounting method.

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The Two Sisters has a return on assets of 9 percent and a dividend payout ratio of 75 percent. What is the internal growth rate
Anettt [7]

The internal growth rate of a firm is best described as the: A. minimum growth rate achievable assuming a 100 percent retention ratio. B. minimum. The tax rate and the dividend payout ratio will be held constant. Current and. The Two Sisters has a 9 percent return on assets and a 75 percent retention ratio.

hope this helps.

7 0
2 years ago
This question is ssssssssssssssssssssssss IDKKKKK
nexus9112 [7]

Answer:

IDKK EITHER OF WHAT YOU ARE ASKING IDK

Explanation:

I just got myself confused  XD

5 0
3 years ago
Which 4 statements are correct regarding the QuickBooks Online Receipt Capture feature?
Scilla [17]

Answer:

A. The Receipt Capture feature uses Optical Character Recognition (OCR) technology to read and transform receipt data to QuickBooks Online.  ⇒ TRUE

B. If QuickBooks Online finds an expense already entered in QuickBooks Online, it will suggest that you match the receipt to the existing transaction.  ⇒ TRUE

C. You can snap a picture of a receipt, then review, match, or add it directly from the QuickBooks Online mobile app.  ⇒ TRUE

D. QuickBooks Online will fill in the fields it can for the expense using the OCR data.  ⇒ TRUE

Explanation:

the other options are false because:

  • E. You can assign a payee, account, payment date, category, description, amount, and memo to the expense transaction in the Review screen.
  • F. You can only have one sender email registered to forward receipts in each company. ⇒ FALSE, you can connect to multiple accounts, generally for different clients. You can use the "Add new sender" link.
3 0
3 years ago
Teresa purchased a necklace for $100 in 1964. In 2014, Teresa gave the necklace to her granddaughter, Lindsey.
padilas [110]

Answer:

d)$1,100 long-term capital gain

Explanation:

Given the information from the question. We know that a long-term capital gain or loss comes from investment that was possessed for a year or longer. However in this case, since the necklace was a gift .Therefore, there were no capital gain in 2014. In 2016, Lindsey sold the necklace for $1200. Therefore, the capital gain on the necklace will calculated as $1200- $100 = $1100. Where the $100 is a cost purchase for the previous owner. Therefore, long-term capital gain is $1100 which is option D.

8 0
3 years ago
Suppose you are the manager of a watchmaking firm operating in a competitive market. Your cost of production is given by C = 200
irga5000 [103]

Answer:

1. 20 units

2. $600

Explanation:

1. C = 200 + 2q^{2}

MC = 4q

Price, P = $80

For maximizing profits,

Marginal cost =  Price of the commodity

4q = 80

q = 20 units

C = 200 + 2q^{2}

C = 200 + 2(20)^{2}

         = 200 + 800

         = 1,000

2. Profit = Total revenue - Total cost

             = (Price × Quantity) - TC

             = (80 × 20) - $1,000

             = $1,600 - $1,000

             = $600

3. We know that the firm in the short run will be produce at a point where total revenue is greater than the total variable cost

Average variable cost = variable cost ÷ quantity

                              =\frac{2Q^{2}}{Q}

                                     = 2Q

MC = 4Q

Here,  MC is greater than AVC at any given point.

so in the short run firm will producing short run positive profit.

4 0
3 years ago
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