Find the Value of the Expression $( - 12 ) ^ { 2 }$

question 238

Multiple Choice

Find the value of the expression.
- $( - 12 ) ^ { 2 }$

• A) 144
• B) 24
• C) -24
• D) -144

Recognize the principles and effects of different inventory costing methods including LIFO, FIFO, and specific identification.

Grasp the concept and application of the lower-of-cost-or-market rule.

Understand the impact of inventory management on gross profit and net income.

Know the proper accounting for goods out on consignment and goods in transit.

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Definitions:

Inventory

A company's stock of the products available for sale to customers, as well as raw materials and work-in-progress that will eventually become finished goods.

Accounts Receivable

Funds that are due to a business from its clients for goods or services already provided but not yet compensated for.

Liquidity Crisis

A situation where an entity lacks the liquidity necessary to meet its short-term obligations, potentially leading to insolvency.