Which One of the Following Is Not a Disadvantage of the LIFO

question 20

Multiple Choice

Which one of the following is not a disadvantage of the LIFO inventory cost flow assumption?

• A)the impact of LIFO liquidation profits
• B)failure to match the most recent costs with revenue
• C)the possibility of income manipulation by management
• D)impaired comparability between companies using LIFO

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Definitions:

Nociceptors

Sensory receptors that detect harmful stimuli, sending pain signals to the brain in response to potentially damaging or dangerous conditions.

Pitch

The perceived frequency of a sound, determining how high or low it sounds.

Auditory Canal

The tube that runs from the outer ear to the middle ear, transmitting sound waves to the eardrum.

Cochlea

A spiral-shaped cavity located within the inner ear, instrumental in converting sound vibrations into nerve impulses for auditory perception.