Which of the Following Statements Is Correct When Inventory Unit

question 113

Multiple Choice

Which of the following statements is correct when inventory unit costs are increasing?

• A)LIFO will result in lower net income and a higher inventory valuation than will FIFO.
• B)LIFO will result in higher net income and lower inventory valuation than will FIFO.
• C)FIFO will result in lower net income and a lower inventory valuation than will LIFO.
• D)FIFO will result in higher net income and a higher inventory valuation than will LIFO.

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Definitions:

Morphemes

The smallest grammatical unit in a language. A morpheme is not necessarily the same as a word. It may or may not stand alone, but it contributes meaning to a word.

Phonemes

The basic and distinct units of sound in a specified language that distinguish one word from another.

Semantics

The branch of linguistics and logic concerned with meaning, including the study of signs, symbols, language, and their significant content.

Psycholinguistics

The study of how language is acquired, produced, and used and how the sounds and symbols of language are translated into meaning.