Which of the Following Is Not an Example of a Differing

question 64

Multiple Choice

Which of the following is not an example of a differing taste for work?

• A)Some people prefer physical labor and hate office work
• B)Some people become airline pilots while others are afraid to fly
• C)Winter temperatures are below zero on crab boats off Alaska
• D)Teenagers prefer jobs at Starbucks and Gap to those at fast-food restaurants
• E)Many people prefer the creative process even though earnings are low

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Definitions:

LIFO

Last In, First Out, a method of inventory accounting where items produced last are considered the first to be sold.

FIFO

FIFO, or First-In, First-Out, is an inventory valuation method where goods first added to inventory are the first to be sold.

IFRS

International Financial Reporting Standards, a set of accounting standards that provide a global framework for how public companies prepare and disclose their financial statements.

Net Realizable Value

The estimated selling price in the ordinary course of business minus any costs necessary to make the sale.