Which of the Following Statements Does Not Accurately Describe the Effects

question 40

Multiple Choice

Which of the following statements does not accurately describe the effects of a write-down of inventory on December 31, 2014 using the lower of cost or market (LCM) valuation method?

• A) The 2013 gross profit decreases.
• B) The 2014 cost of goods sold is effectively decreased if the inventory was sold during 2014.
• C)The 2013 ending inventory is decreased.
• D)The 2014 gross profit is not affected when the inventory was sold during 2014.

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Definitions:

Acute Care Setting

A health care environment where patients receive immediate and short-term treatment for severe injuries or episodes of illness.

Motivation

A state of readiness to change.

Readiness To Change

An individual's willingness and preparedness to make modifications in their behavior or lifestyle.

Nutrition Interventions

Actions or strategies put in place to improve nutritional status or health outcomes, such as dietary modifications, supplementation, or education programs.