Which of the Following Statements Is True

question 7

Multiple Choice

Which of the following statements is true?

• A)The last-in, first-out (LIFO)cost flow assumption is an acceptable method for costing inventories in Canada.
• B)Over time, the number of areas where management has a free choice over accounting policies has increased.
• C)A change in accounting policy is an accounting change made at the discretion of management.
• D)Changes in accounting policy occur more frequently than changes in estimates.

Recognize the structural designs suitable for supporting both innovative ventures and established business operations.

Describe the characteristics and implications of flat decentralized organizational structures, specifically holacracy.

Comprehend the concept of vertical integration and its strategic advantages for business expansion and control over the supply chain.

Understand the strategic value of networks and network organizations in specialization and information diffusion.

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Definitions:

Ethical Considerations

Refers to the moral principles and values that govern the actions and decisions in a work environment or study.

Behavioral Economics

An area within economics that investigates the influence of emotional, psychological, cognitive, social, and cultural elements on the economic decision-making of both individuals and institutions.

Tax Burden

The financial charge or other levy imposed upon a taxpayer by a governmental organization in order to fund various public expenditures.

Economically Rational

Decision-making based on the principle of maximizing benefits while minimizing costs and resources.