Examlex
In the 1920s Muller discovered that X-rays caused mutation in Drosophila. In a related series of experiments in the 1940s, Charlotte Auerbach discovered that chemicals-she used nitrogen mustards-have a similar effect. A new chemical food additive is developed by a cereal manufacturer. Why do we test for its ability to induce mutation?
FIFO Inventory Method
"First-In, First-Out," an inventory valuation method where the oldest inventory items are recorded as sold first, potentially affecting the cost of goods sold and inventory value.
Income Tax Purposes
Pertains to considerations or actions taken in the context of calculating tax liability on income.
Financial Reporting
The practice of creating reports that reveal the financial condition of a company to its management, investors, and governmental bodies.
LIFO Inventory Method
An accounting method that assumes the most recently produced items are sold first and uses those costs for accounting.
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