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kap26 [50]
3 years ago
5

When a company uses LIFO for external reporting purposes and FIFO for internal reporting purposes, an Allowance to Reduce Invent

ory to LIFO account is used. This account should be reported: on the income statement in the Other Expenses and Losses section. on the balance sheet in the Current Assets section. on the income statement in the Cost of Goods Sold section. on the income statement in the Other Revenues and Gains section.
Business
1 answer:
zalisa [80]3 years ago
4 0

Answer:

<em>This account should be reported on the balance sheet in the Current Assets section.</em>

Explanation:

Current assets are situated at the start of the balance sheet assets section. This portion of the balance sheet includes some short-term assets that are easiest to turn into cash.

Depending on its comparative ability to generate into money (called the liquidity order), every one of the current asset line items is placed on the balance sheet.

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Nikhil is a design manager for a production company. He independently assigns teams, chooses projects, researches trends, and is
Papessa [141]

Answer: Based on this description, it's safe to say that Nikhil's job is high in c. autonomy.

Explanation:

What is meant by an autonomy character?

This is a person who is able to decide or make decisions without being forced to do so they are independent individuals who can take control of their own tasks at a very high standard level. They are professionally capable of using their freedom to make exceptional decisions that are well thought of and of high standard.

Nikhil works independently , is able to distribute the work to the team and is able to provide proper standard report every month without being told or forced to do so this qualifies under autonomy.

6 0
3 years ago
A manufacturing company incurs direct materials costs of $6 per unit. The total direct materials cost is______when the company m
Alja [10]

Answer:

$12,000

Explanation:

The manufacturing company has a direct materials cost of $6

The company manufactures 2,000 unit

Therefore total direct material cost can be calculated as follows

= 2,000×6

= $12,000

Hence the total direct material cost of $12,000

4 0
3 years ago
Which type of investment involves lending money and charging interest on it?
Pavel [41]
C. Debit investment
6 0
3 years ago
ABC had a net income of $8,000, $5,000, $12,000, and $10,000 over the first four years of the company's existence. If the averag
Nezavi [6.7K]

Answer:

B) $23,000.

Explanation:

ABC's accumulated net income (or retained earnings) over the past four years = $8,000 + $5,000 + $12,000 + $10,000 = $35,000

ABC's accumulated dividends paid over the past four years = $3,000 x 4 = $12,000

Since dividends are paid using money that proceeds from retained earnings, the balance of the retained earnings account = accumulated retained earnings - accumulated dividends = $35,000 - $12,000 = $23,000

4 0
3 years ago
James Stillman is an investment adviser representative with Rock, Feller, and Standard (RFS), a covered adviser with its princip
liubo4ka [24]

Answer:

Stillman should register as an investment adviser representative in state P.

Explanation:

Investment adviser representatives (IARs) must necessarily register in the state that they work in. In this case, Rock, Feller, and Standard (RFS) must be registered in all the states where it has offices functioning, but Stillman only needs to register in the state where his office is. If Stillman worked half year in state P and the other half in state M, then he would need to register in both states. But since this is not the case, then registering in state P should be enough.

3 0
3 years ago
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