The "Least and Latest Rule" Is

question 286

Multiple Choice

The "least and latest rule" is:

• A)that a taxpayer should pay the least tax legally permitted at the latest date allowed.
• B)an inventory management system similar to LIFO,where the least amount of inventory on hand is from the latest purchases from suppliers.
• C)the latest information technology is the least commonly used in accounting practice.
• D)the least competent employees are always the latest to show up for work.

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Definitions:

Punitive Damages

Monetary compensation awarded in civil lawsuits, over and above actual damages, intended to punish the defendant for negligent or malicious conduct and deter future wrongdoing.

Backpay

Compensation for wages lost due to wrongful termination or other employment disputes.

Personal Email Addresses

Individual electronic mail address accounts not related to employment, used for private communication.

Election Date

The specific day designated for the conduct of voting, commonly used in the context of political elections or union representations.