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Marrrta [24]
3 years ago
9

True or False: The LIFO Conformity Rule states that if the LIFO method is used for income tax purposes, it can not be used for f

inancial statement purposes.
Business
1 answer:
elena-s [515]3 years ago
6 0

Answer:

FALSE

Explanation:

The LIFO conformity rule requires taxpayers that elect to use LIFO for tax purposes to use <u>no method other than LIFO to ascertain the income, profit, or loss for the purpose of a report or statement to shareholders, partners, or other proprietors, or to beneficiaries, or for credit purposes</u>.

Hence the IRS requires that the same method for income tax purpose be used for financial statement purpose

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ECON Good morning can someone answer this please asap
dusya [7]
The answer is B because both have access to capital that competitive markets wouldn’t give them because they dominate the market place and drive out competitors
5 0
3 years ago
Suppose Will gives his wallet containing $100 to Alex to hold while he works out. During Will’s workout, Alex uses the $100 to p
kondor19780726 [428]

Answer:please refer to the explanation section

Explanation:

Mechanic = $100

Vet = $100

Alex (payment from vet) = $100

Will's $100 bill has created $300.

This situation is explained in detail by the concept known has the multiplier. The multiplier measures how much impact will a change in an exogenous variable will cause in endogenous variables, for example How much a increase in Government spending will change Gross Domestic Product.

The multiplier in this case is 3,

3 0
3 years ago
Meiji Isetan Corp. of Japan has two regional divisions with headquarters in Osaka and Yokohama. Selected data on the two divisio
abruzzese [7]

Answer:

Please check the info below

Explanation:

1. For Osaka

Margin =  Net Operating Income / Sales *100

= $ 792000 / $9900000 *100

= 8.00%

Turnover = Sales / Average Operating Assets * 100

= $ 9900000 / $ 2475000 * 100

= 4.00%

ROI =  Margin * Turnover

= 8% *4 %

= 32.00%

Hence the correct answer is 32.00%

For Yokohama :

Margin =  Net Operating Income / Sales *100

= $ 2900000 / $ 29000000*100

= 10.00%

Turnover = Sales / Average Operating Assets * 100

= $ 29000000 / $ 14500000* 100

= 2.00%

ROI =  Margin * Turnover

= 10% *2 %

= 20.00%

Hence the correct answer is 20.00%

2. The correct answer is  

Osaka = $ 371,250

Yokohama = $ 435,000

3. The correct answer is No

This is because since Osaka has a higher ROI, Yokohama’s greater amount of residual income is not an indication that it is better managed

4 0
3 years ago
Katlyn Williams owns a company that makes specialized components for the aerospace industry. Her most important customer is a co
omeli [17]

Answer:

Need to accommodate the growth of a key customer.

Explanation:

In the given scenarios Katlyn is motivated to keep her company growing because her most important customer is a company that is growing at a rate of 33% per year.

To satisfy the customer needs for specialised components of aerospace equipment, Katlyn's company must also grow in output or they will not be able to satisfy the customer's need.

This demonstrates need to accommodate the growth of a key customer.

7 0
3 years ago
Read 2 more answers
Write a for loop that prints in ascending order all the positive integers less than 200
ExtremeBDS [4]

The correct answer for the for loop is:

for (int i=1; i<200; i++){

if ((i%2)==0 && (i%3)==0){

cout << i << " ";

}

}

Python offers three options for running the loops. For iterating repeatedly through a sequence, use a for loop (that is either a list, a tuple, a dictionary, a set, or a string). This functions more like an iterator method seen in other object-oriented programming languages and is less like the for keyword found in other programming languages. The for loop allows us to run a series of instructions once for each element of a list, tuple, set, etc. There is no need to set an indexing variable before using the for loop.

Write a for loop that prints, in ascending order, all the positive integers less than 200 that are divisible by both 2 and 3, separated by spaces.

Learn more about loops here:

brainly.com/question/25955539

#SPJ4

5 0
2 years ago
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