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faust18 [17]
3 years ago
7

Which sentence in the text signifies the ‘tangibility’ of goods? Valerie went to a supermarket to buy some oranges. She entered

the floor of the store where she found many fruits kept in cases. She asked the store helper to direct her to where the oranges were kept. She then checked the texture of the fruits to make sure they were fresh. She checked the price of the oranges. Later, at the cash register, she chose to pay with a credit card.
Business
1 answer:
Georgia [21]3 years ago
4 0

Tangible means that whatever it is your talking of is easily sensed, through one of the 5 senses. I'm this case the narrator used just enough description that we can get a tangible idea of the orange she picked up. "...checked the texture...to make sure they were fresh," the narrator here describes the fruit in enough detail that we can envision the tangibility of the orange.

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Which of the following statements regarding inventory costing methods is correct? Multiple Choice In periods of inflation, LIFO
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Answer:

In periods of inflation, LIFO will result in the lowest reported net income, and therefore a company will pay less in federal income taxes ⇒ TRUE STATEMENT

Explanation:

Last in, first out (LIFO) uses the  price of the last units purchased in order to determine the cost of goods sold. When inflation is high, prices tend to increase continuously, therefore, the price of the last units purchased will always be higher than the price of the first units purchased. This doesn't mean that exactly the last units purchased will be the ones sold, it is just an accounting method.

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D. Separation of Duties

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