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Verdich [7]
3 years ago
14

If prices are rising and a company's physical inventory levels are unchanged, the use of FIFO rather than LIFO for inventory val

uation will tend to result in the current period in a?
Business
1 answer:
bekas [8.4K]3 years ago
8 0
The use of FIFO instead of LIFO in this context for inventory valuation will tend to produce an increase in net income, hence an increase in income tax. When prices are rising, the cost of goods sold are lower while the value of inventory is higher, hereby boosting the net income. Though sounding attractive, the increase in net income accordingly implies an increase if the amount of ta to settle.
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What was the earliest franchise of indoor cycling classes called?.
FinnZ [79.3K]

The earliest franchise of indoor cycling classes called Spinning

<h3>Spinning</h3>

  • Spinning is a brand of indoor bicycles and indoor cycling instruction classes distributed and licensed by the American health and fitness company Mad Dogg Athletics.

In conclusion, we can conclude that the correct answer is spinning.

learn more about spinning from here: brainly.com/question/339581

5 0
2 years ago
Suppose that you are an orange grower. Would you expect the demand for your
aksik [14]

It should be noted that the demand for orange will be elastic because when there's a change in price, there'll be a larger change in quantity demanded.

It should be noted that an elastic demand simply means a situation whereby a change in the price of a good lead to a larger change in the quantity demanded.

In this case, the demand for orange will be elastic because when there's a change in price, there'll be a larger change in quantity demanded. For example, an increase in price will make the customers buy other fruits.

Learn more about demand on:

brainly.com/question/25585026

8 0
2 years ago
LIST THE 7 MOST GORGEOUS RUSSIAN SUPERMODELS.
kvv77 [185]

Dude, you've got your priorities all sorted out ahahah

7 0
2 years ago
Read 2 more answers
Payments from customers received before performing services for the customers are recorded as
Pachacha [2.7K]

Answer:

B) liabilities.

Explanation:

When the payment is received from the customer before performing the services is known as unearned service revenue

The journal entry is

Cash A/c Dr XXXXX

          To Unearned Service revenue A/c XXXXX

(Being advance payment is received)

We simply debited the cash account as cash is received and credited the respective account i.e unearned service revenue

7 0
3 years ago
The relationship between the price of a good or service and the quantity demanded of that good or service described by the law o
Klio2033 [76]

This relationship described between the price and the quantity demanded is known as the <u>Price Elasticity of Demand (PED). </u>

<h3>What is the Price Elasticity of Demand?</h3>
  • It is a measure that shows the relationship between the price of a good and the quantity demanded of it.
  • Shows how sensitive quantity demanded is to a change in price.

When the PED is less than 1, it means that a change in price doesn't affect the quantity demanded as much. When it is more than 1, a change in price will lead to an even higher change in quantity demanded.

In conclusion, this is the Price Elasticity of Demand.

Find out more on PED at brainly.com/question/9235198.

8 0
2 years ago
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