Which of the Following Is Not a Disadvantage of Using

question 58

Multiple Choice

Which of the following is not a disadvantage of using the FIFO cost flow assumption?

• A)creates the highest outflow for income taxes during periods of rising prices
• B)does not match current costs against current revenues
• C)includes all the holding gains in income during periods of rising prices
• D)provides a relevant ending inventory value

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Definitions:

Autosomes

Chromosomes that are not directly involved in determining the sex of an organism; humans have 22 pairs of autosomes.

X Chromosomes

One of two sex chromosomes, present as two copies in females (XX) and one in males (XY), carrying genes that determine sexual development and contribute to other traits.

Differentiation

Process by which cells become specialized during development; occurs as different cells in an embryo begin to use different subsets of their DNA.

Subsets

Portions of a larger set that contain some or all elements of the original set, obeying the principle that every set is a subset of itself.