Which of the Following Statements Concerning the Formation of NATO

question 109

Multiple Choice

Which of the following statements concerning the formation of NATO in 1949 is not true?

• A) The United States wanted a defensive alliance that preserved the security of Western Europe.
• B) Many European countries joined because of they feared the spread of communism.
• C) The Soviet Union formed NATO to offset the creation of the Warsaw Pact by the United States.
• D) This was the first major military alliance involving the United States since the late 1700s.
• E) President Truman ranked NATO as one of his proudest achievements.

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Definitions:

FIFO Method

An inventory valuation method that assumes the first items purchased (First-In) are the first ones sold (First-Out), affecting the cost of goods sold and inventory valuation.

Cost Reconciliation

The process of verifying the cost of goods sold by comparing the beginning and ending inventories, plus purchases, with the total goods available for sale.

Work in Process Inventory

This represents the cost of unfinished goods in the manufacturing process at a certain point in time.

FIFO Method

FIFO Method, an acronym for "First In, First Out," is an inventory valuation method where goods purchased or produced first are sold or used first.