Which of the Following Statements Is False

question 53

Multiple Choice

Which of the following statements is false?

• A)Companies do not have to use the same inventory method for all items of inventory.
• B)Companies do not have to consistently use the same inventory costing methods over time.
• C)Use of the LIFO inventory method during a period of increasing unit costs may create a conflict of interest between the owners and managers.
• D)A company choosing to maximize stockholders' equity during a period of increasing unit costs should use the FIFO inventory method.

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Definitions:

William James

An American philosopher and psychologist, often considered the father of American psychology, who made significant contributions to early psychology and philosophy.

Edward Bradford Titchener

A British psychologist known for developing structuralism, an early school of psychology that aimed to analyze the structure of the mind.

Charles Darwin

A 19th-century naturalist and geologist best known for his contributions to the evolutionary theory through natural selection.

Wilhelm Wundt

Known as the "father of modern psychology," he founded the first formal laboratory for psychological research at the University of Leipzig, marking the beginning of psychology as a separate and distinct science.