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]
4 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]4 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
Two types of deposit accounts are
andre [41]

Answer:

checking and saving

Explanation:

when you opening a new bank account. the bank will ask you want to open a checking and saving account or both

4 0
3 years ago
What are cash flow financing activities
spin [16.1K]

Answer: Cash flow from financing activities (CFF) is a section of a company's cash flow statement, which shows the net flows of cash that are used to fund the company. Financing activities include transactions involving debt, equity, and dividends.

Explanation:

7 0
3 years ago
Most new jobs in the United States will be in the____.
iVinArrow [24]
C! service producing industries.
3 0
3 years ago
Read 2 more answers
On January 15, Cheyenne Corp. sells merchandise on account to Flounder Associates for $4500 with terms 2/10, n/30. On January 20
Leni [432]

Answer:

The amount of cash received on January 24 is $3332

Explanation:

The amount of cash received will be for the net amount of receivable after adjusting for sales returns and the sales discount as the payment is received within the discount period of 10 days as stated by the term 2/10 which means a 2% discount if payment is received within 10 days of sale.

The accounts receivable at January 15 after sale were $4500. Out of this amount, $1100 of returns are made. Thus, the remaining balance of accounts receivables after return is $4500 - $1100 = $3400

The discount received will be = 3400 * 2% =  $68

Thus, the cash received on January 24 will be 3400 - 68  =  $3332

6 0
4 years ago
A great business idea is A. the beginning of a great business. B. all you need to succeed. C. something that comes along once in
Kryger [21]

Answer:

A beginning of a great business

Explanation:

Not for sure that the answer

5 0
3 years ago
Other questions:
  • When leo burnett combines advertising, personal selling, public relations, and sales promotion into one comprehensive, unified p
    14·2 answers
  • In Year 1, Rona Corp. issued 5,000 shares of $10 par value common stock for $100 per share. In Year 7, Rona reacquired 2,000 sha
    7·1 answer
  • Raugust-Mathwig, Inc., a corporation, was the sole general partner of a limited partnership. Calvin Raugust was the major shareh
    10·1 answer
  • Depreciation expense on factory equipment is part of factory overhead cost.<br> A. True<br> B. False
    10·1 answer
  • Assume that initially a country has a loanable funds supply curve of S1. Now, imagine that interest rates across the country inc
    10·1 answer
  • Marcus has recently been asked to conduct a Feasibility Analysis for automating a process in his organization. In this regard, h
    7·1 answer
  • The bond has a coupon rate of 6.11 percent, it makes semiannual payments, and there are 2 months to the next coupon payment. A c
    13·1 answer
  • Weekly activity reports by an agent to a client should include:_______.
    15·1 answer
  • Because there isn't one single measure of inflation, the government and researchers use a variety of methods to get the most bal
    11·1 answer
  • Rinaldo is an expat working in Singapore. As part of his compensation package, a chauffeur drives him to and from work each day.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!