Given Equal Circumstances, Which Inventory Method Would Probably Be the Most

question 132

Multiple Choice

Given equal circumstances, which inventory method would probably be the most time-consuming?

• A)FIFO
• B)LIFO
• C)Average-cost
• D)Specific identification.

---

Definitions:

Human Capital

Is the sum of useful skills and knowledge that an individual possesses.

Business Administration

The management and operational skills required to run a business effectively, including planning, organizing, staffing, leading, and controlling organizational resources.

Income Level

A measure of the amount of monetary earnings or revenue a person, family, or household receives within a specified time period, often used to gauge economic status.

Welfare State

A government system that provides a range of social security and welfare benefits to its citizens.