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mixer [17]
3 years ago
12

In a period of steadily rising prices (meaning the cost to purchase inventory is increasing over time), what would be the implic

ations of choosing FIFO vs. LIFO
Business
1 answer:
IrinaK [193]3 years ago
4 0

Answer:

So choosing FIFO would yield the highest profit and net income.

Explanation:

When the purchase price is continuously rising the

  • FIFO assigns the lowest amount to cost of goods sold- yielding the highest gross profit and net income.
  • LIFO assigns the highest amount to the cost of goods sold -yielding the lowest gross profit and net income.

So choosing FIFO would yield the highest profit and net income.

FIFO assigns an amount to inventory closely approximating current replacement cost. First in First out charges costs to items old assuming that the earliest units purchased are first units sold.

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A personal characteristic that fosters organizational politics is a) the desire to help. b) need for power. c) drive to be a vis
DanielleElmas [232]

Answer: b) need for power.

Explanation:

Organizational politics are activities that people engage in to be able to further their personal interests even if these interests are not always in the best interest of the company itself.

To be able to further their interests, they need power and influence which means that the personal characteristic that fosters organizational politics is the need to have power.

7 0
2 years ago
Great Adventures obtains a $30,000 low-interest loan for the company from the city council, which has recently passed an initiat
Tju [1.3M]

Answer:

The journal entry at the time when great adventures obtains the $30,000 loan is:

Account Title                       Debit            Credit

Cash                                     30,000

Notes Payable                                          30,000

The interest accrued at the end of each month would be:

30,000 * 6% = 1,800/12 = $ 150

Interest entry would be made at the end of each month to record the interest expense.

7 0
3 years ago
Which group would most likely dislike a city ordinance that bans loud vehicles?
weqwewe [10]
The correct answer of the given question above would be the MOTORCYCLE DRIVERS. The group that would most likely dislike a city ordinance that bans loud vehicles are motorcycle drivers. Often times, motorcycles create loud noises in the public street which create disturbance especially in those places where loud sounds are prohibited. Hope this answer helps.
3 0
3 years ago
Read 2 more answers
ACES is a quality auditing firm. It has dedicated a team of managers, business analysts, and system analysts to develop an infor
ivann1987 [24]

Answer: (4) Requirement analysis

Explanation:

 The requirement analysis is one of the process of determine the actual user expectation for building the new product with the help of new modifications.

The requirement analysis is one of the phrases of SDLC (Software development life cycle). The requirement analysis is also known as requirement engineering.

According to the question, the requirement analysis is one of the software development life cycle phase in which the information system are produced by using the report according to the organization quality.

Therefore, Option (4) is correct.

3 0
3 years ago
By repeating what you think she said in your own words, you're demonstrating effective ___ skills.
yan [13]
You are expressing communication skills
7 0
3 years ago
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