All of the Following Are Acceptable for Financial Accounting Purposes

question 119

Multiple Choice

All of the following are acceptable for financial accounting purposes except

• A)specific identification.
• B)FIFO.
• C)LIFO.
• D)retail cost.

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Definitions:

District Boundaries

Defined geographical limits of electoral districts, administrative areas, or political divisions.

Census

A systematic enumeration of a population, often including the collection of demographic, social, and economic information.

Presidential Veto

The power of the President to refuse to sign a bill passed by Congress, thereby preventing it from becoming law unless overridden by a two-thirds vote in both houses.

Congress

The national legislative body of a country, particularly in the United States, it's made up of two houses: the Senate and the House of Representatives.