If a Company Does Not Maintain Its Treasury Stock Records

question 63

Multiple Choice

If a company does not maintain its treasury stock records on a specific identification basis, which of the following approaches may be used to record a reduction in the treasury stock account when the stock is reissued?

• A)FIFO or average costing
• B)FIFO or LIFO costing
• C)LIFO or average costing
• D)none of these

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