Which of the Following Processes Best Describes the Cause of a Bottleneck

question 3

Multiple Choice

Which of the following processes best describes the cause of a bottleneck effect?

• A) chance events that change allele frequency
• B) transfer of alleles to the next generation in proportions that differ from the current generation
• C) transfer of alleles in and out of a population due to movement of fertile individuals
• D) drastic decrease in the size of the population

Recognize the operation and impact of different inventory valuation methods such as FIFO and LIFO.

Understand the role and disclosure of LIFO reserve in financial reporting and its comparison with FIFO.

Identify the treatment of current (replacement) cost under GAAP and its impact on financial statements.

Realize the effects of LIFO liquidation on financial statements and its reporting requirements.

---

Definitions:

Mileage Reimbursement

Compensation for fuel and wear-and-tear expenses for the use of a personal vehicle for business purposes, usually calculated by the mile.

Schedule C

A tax form used by sole proprietors to report income and expenses from a business.

Actual Expenses

Real, documented expenses incurred for a specific purpose, often used for tax deduction calculations.

Local Benefits

Refers to services or advantages provided by local government or community organizations to their residents.