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
koban [17]
3 years ago
8

If a company uses LIFO to measure its taxable income, the IRS requires that LIFO also be used to measure income reported to inve

stors and creditors.This is know as the
Business
1 answer:
Rainbow [258]3 years ago
7 0

Answer:

LIFO conformity rule

Explanation:

LIFO stands for Last in, first out and is a method used to account for inventory that records the most recently produced items as sold first. The description provided in this question is known as the LIFO conformity rule. This is a rule that requires all taxpayers that elect to use LIFO for tax purposes to use LIFO exclusively in order to make sure of the income, profit, or loss for the purpose of a report or statement to shareholders, partners, or other proprietors.

You might be interested in
Jarrod has gotten a job as a cashier at a retail store. He notices the fitting rooms are messy, so he cleans them and puts the c
AnnyKZ [126]

Answer:

Jarrod is demonstrating initiative.

Explanation:

Initiative is to take a lead in an activity without being told, you research better ways to do things and implement them without being reminded. Taking initiative at times involves doing something that is not necessarily your duty but you do it anyway. Most employees that show initiative always gain trust of their superiors since they feel like you don't need to be supervised to do your job. Taking initiative also exposes one to numerous opportunities. In modern times, organizations have a need for employees who can take initiative and think on their feet by finding solutions to problems without necessarily being coerced into taking action. Initiative is an important skill that can be developed. The following examples are ways on developing initiative;

1. Develop a career plan

2. Gain some confidence in your self

3. Self assess to work on your weaknesses

4. Develop the skill of spotting opportunities for growth

3 0
3 years ago
Assume an economy is currently engaged in free trade but considering implementing a tariff on its main import, athletic shoes. W
UNO [17]

Answer:

Price - increase

Domestic production- increase

Import- reduces

Producer surplus- increase

Explanation:

A tariff is a form of tax on import or export.

When a tariff is imposed on a good , the price of the good increases.

As a result of the tariff , the amount of the goods imported falls as the imported good is now more expensive. The quantity produced by domestic producers increases as consumers would now start demanding for the domestic good. Tariffs are sometimes enacted to discourage importation and encourage domestic production.

As a result of the price increase, producer surplus increases. The increase in price also increases output. The producer surplus is the difference between the price of a product and the least amount the producer is willing to sell his product.

I hope my answer helps you.

7 0
4 years ago
The Blue Bird Bus Company in Georgia sells buses to the South African government. To South Africa, these buses are an example of
o-na [289]
This is an example of exports
4 0
3 years ago
Why doesn’t coke lose all its customers when it raises its price?
vazorg [7]
Coke is a very popular brand in drinks and most people don't think much it is. but i am not 100% sure about the answer but it sounds good to me
7 0
4 years ago
Read 2 more answers
Which statement is correct? Stock repurchases invalidate the dividend discount modelStock repurchases increase the number of sha
Aneli [31]

Answer:

When there are repurchases, it is simpler to value a business by discounting the  free cash flow.

Explanation:

Reason stock repurchase decline the quantity of the offers held by open and profit can be gauge much after repurchase of offers.  

It influence the estimation of organization and it ought not be overlooked.  

Stock repurchase doesn't negate DDM model in light of the fact that there are many creator express that DDM can be utilized for the valuation in for esteeming firm which repurchase or get it's offers.  

Indeed it is anything but difficult to utilize free income for esteeming firm offers by utilizing free money flow approach of calculation of share cost or value.

4 0
3 years ago
Other questions:
  • What prevents farquars in no witchcraft for sale from seeing gideon as an intelligent and capable adult?
    9·1 answer
  • What is people favorite product and Company
    12·1 answer
  • All managers are great leaders (4pts) true false
    15·1 answer
  • Justin works at a top accounting firm in Los Angeles and his responsibilities include writing letters, memos, and emails along w
    7·1 answer
  • Which loan type requires you to make loan payments while you’re attending school?
    7·1 answer
  • What is sadness ??
    9·1 answer
  • Use the following information to answer the next two questions. Downey Company bought a delivery truck for $62,000 on January 1,
    11·1 answer
  • If the economy starts below full employment, an expansionary fiscal policy will shift the aggregate demand curve from _____ to _
    6·1 answer
  • Ken, a real estate agent, assures Lily that a certain parcel of commercial property fronts on the most highly trafficked street
    5·1 answer
  • Principles of Investment
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!