1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
yulyashka [42]
3 years ago
12

Companies can and often do use different costing methods for financial reporting and tax reporting. An exception to this is the:

Business
1 answer:
nignag [31]3 years ago
7 0

Answer:

LIFO conformity rule.

Explanation:

LIFO refers to the Last in first out method. In this inventory system, the firm sells last units at first stage and then sells according to that

According to the given situation,  the LIFO conformity rule requires that the taxpayer follow the same inventory cost flow as used for tax reporting purposes in the financial statement.

Therefore the correct answer is LIFO conformity rule.

You might be interested in
a cellular phone is a phone that is cellular" How might you explain to the speaker the problem with this assertion?
aleksley [76]
That the phone has data without internet making the phone useable while not at home or out in public
3 0
2 years ago
Barney Googal owns a garage and is contemplating purchasing a tire retreading machine for $12,820. After estimating costs and re
UNO [17]

Answer:

the present value is $13,588.97

Explanation:

The computation of the present value of the retreading operation is shown below:

As we know that

Present value = Future value ÷  (1 + rate of interest)^time period

= $2,700 ÷ 1.09^1 + $2,700 ÷ 1.09^2 + $2,700 ÷ 1.09^3 + $2,700 ÷ 1.09^4 + $2,700 ÷ 1.09^5 + $2,700 ÷ 1.09^6 + $2,700 ÷ 1.09^7

= $13,588.97

Hence, the present value is $13,588.97

5 0
2 years ago
Farad, Inc., specializes in selling used trucks. During the month, Farad sold 50 trucks at an average price of $9,000 each. The
beks73 [17]
$788 to me and my brother in law I come see him
4 0
3 years ago
PHN Foods granted 18 million of its no par common shares to executives, subject to forfeiture if employment is terminated within
kap26 [50]

Answer:

The $12 million is the net increase in the denominator of the EPS fraction if the market price of the common shares averages $5 per share during 2018.

Explanation:

1. The journal entry is shown below:

For December 31, 2017:

Compensation Expenses A/c Dr ($18 million × $5 per share) ÷ 3 = $30 million

    To Restricted Shares $30 million

(Being compensation expenses recorded for 2017 year)

For December 31, 2018:

Compensation Expenses A/c Dr ($18 million × $5 per share) ÷ 3 = $30 million

    To Restricted Shares $30 million

(Being compensation expenses recorded for 2018 year)

2.  The net increase in the denominator of the EPS fraction for 2018 year  is shown below:

=  2018 shares - Restricted shares

= $30 million - $18 million

= $12 million

Hence, the $12 million is the net increase in the denominator of the EPS fraction if the market price of the common shares averages $5 per share during 2018

6 0
3 years ago
What is financial economies of scale​
nekit [7.7K]

Answer:

Financial economies of scale are a type of internal economy of scale. They are economies of scale enable more favourable rates of borrowing. That is, larger businesses are seen by lenders as more reliable or worthy of credit due to their size, whereas smaller businesses will tend to pay higher rates of interest.

4 0
2 years ago
Other questions:
  • Sidewinder, Inc., has sales of $686,723, costs of $335,000, depreciation expense of $80,000, interest expense of $45,000, and a
    10·1 answer
  • The _____ is used to measure price changes in commonly used goods and services, such as food and housing.
    5·1 answer
  • One reason some manufacturing companies began moving production to China in the early 2000s was due to lower wages that could be
    14·1 answer
  • Suppose the inflation premium is 2 percent and the nominal interest rate is 1 percent. Instructions: In part a, enter your answe
    13·1 answer
  • The owner of a small fleet of taxicabs had his cabs serviced by a national chain of auto service centers. One of his cabs went t
    6·1 answer
  • A company is considering investing in a new machine that requires a cash payment of $38,198 today. The machine will generate ann
    8·1 answer
  • Once a project is underway, the project manager is responsible for the:_______a. people. b. cost. c. time. d. All of these
    14·1 answer
  • Question 7 (1 point)
    14·1 answer
  • stock a has an expected return of 20%; stock b has an expected return of 5%, what is the ecpected return on a portfolio is compr
    14·1 answer
  • How does specialization play a role at the bookstore?
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!