Which One of the Following Statements Is False Concerning the Retail

question 49

Multiple Choice

Which one of the following statements is false concerning the retail inventory method?

• A) In arriving at a cost-to-retail ratio, sales discounts are deducted from goods available for sale to determine ending inventory at retail.
• B) Employee discounts are subtracted from goods available for sale to compute ending inventory at retail.
• C) Abnormal inventory spoilage would be subtracted at both cost and retail in the determination of goods available for sale.
• D) Purchase returns and allowances must be subtracted from both the cost and retail value of the purchases.

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Definitions:

Decreased Overall Plan Costs

Refers to the reduction in total expenses associated with a particular plan, often aimed at making insurance plans, benefit programs, or operational activities more efficient and cost-effective.

Work And Personal Activities

The blend or balance between a person's job responsibilities and their personal life, interests, and commitments.

Paid Time Off

An employee benefit where workers get paid while being away from work for certain reasons, such as vacation, illness, or personal time.

Community Service

Voluntary work intended to help people in a particular area or community, often organized by a non-profit or governmental organization.