Which of the Following Is a Disadvantage to Business of the LIFO

question 32

Multiple Choice

Which of the following is a disadvantage to business of the LIFO method of applying costs to inventory?

• A) Current income is matched with the most recent costs of acquiring goods.
• B) It understates the balance sheet value for inventory.
• C) It is difficult for a computer program to apply the method.
• D) If it is allowed for tax purposes, in times of rising prices it results in less tax being paid in the current period.

Understand the economic implications of tax changes on consumption behavior.

Understand the basic concepts of genetics, including the structure and function of genes, chromosomes, and DNA.

Identify the differences between identical and fraternal twins, and the implications for genetic similarity.

Gain an understanding of the public's rejection of evolutionary theory and the reasons behind it.

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Definitions:

Undernourishment

The condition of not having enough food or the right type of food to lead a healthy life.

Multiple Risk Factors

A combination of attributes, characteristics, or exposures that increases the likelihood of developing a disease or injury.

Teratogenic Agents

Substances or environmental factors that can lead to congenital abnormalities or developmental disorders when a fetus is exposed during pregnancy.

Spontaneous Abortion

Refers to the natural end of a pregnancy before the fetus can survive outside the womb, often known as a miscarriage.