-Which Statement Is FALSE

question 91

Multiple Choice

-Which statement is FALSE?

• A)LIFO is not allowed in several countries outside the United States.
• B)IFRS does not permit the use of LIFO.
• C)FIFO and average cost are allowed in Australia and the United Kingdom.
• D)If LIFO is no longer allowed to be used in the United States, the tax burden on many companies will be lower.

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Definitions:

Credibility Gap

The distrust or skepticism that arises when there is a perceived disconnect between what an individual or organization says and what they actually do.

Human Resources

Concerns all aspects of employment, including recruitment, staffing, training, payroll, benefits administration, and compliance with labor laws.

Management and Staffs

The process and people involved in planning, organizing, leading, and controlling an organization's resources to achieve its objectives.

Conscious Determinants

Factors that are consciously recognized and understood to influence an individual's thoughts, feelings, and behaviors.