Answer: a. FIFO to LIFO, but not LIFO to FIFO
Explanation:
Well the inventory changes which would likely be accounted for is the FIFO ( first in first out system ) to LIFO ( last in first out system ). But not the LIFO ( last in first out ) to FIFO ( first in first out ). This system are mostly used in sales where for FIFO the first goods to arrive leaves first and for LIFO the opposite of FIFO
Competitive price taker firms always earn zero economic profit in long-run equilibrium because of the following reasons which include easy entry & exit, small player etc.
Perfect competition exists when there are many sellers, firms can easily enter and exit, products are identical from one seller to the next, and sellers are price takers.
A perfectly competitive firm must accept the equilibrium price at which it sells goods because it is a price taker.
A perfectly competitive firm will be unable to make any sales if it charges even a small amount more than the market price.
Furthermore, a perfectly competitive firm must be a very small player in the overall market, allowing it to increase or decrease output without affecting the overall quantity supplied and price in the market.
Hence, Competitive price taker firms always earn zero economic profit in long-run equilibrium.
Learn more about Long-run equilibrium:
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Answer:
Answer is on the chegg link i provided
Explanation:
https://www.chegg.com/homework-help/john-roberts-55-years-old-asked-accept-early-retirement-comp-chapter-6-problem-9p-solution-9780078025327-exc
Answer:
Explanation:
FASB amended the rules to improve the comparability of the information about business combinations provided in financial reports. A variable interest entity is a legal business.
The Financial Accounting Standards Board issued SFAS 141(R) in 2007 December, to substitute the SFAS 141. Evaluating the comment letters, articles and industry publications, they analyzed issues that were with SFAS 141 from the perspective of professionals, users and the FASB; it was evaluated 141(R) to ascertain these weaknesses and they were corrected with solutions been profound in 141(R).
Answer:
100
Explanation:
because it gives enough time for notice but not too much to where people think you could be turning at a earlier intersection
