In a Long Report It Is Wise to Use "Signals

question 43

True/False

In a long report it is wise to use "signals and signposts" for the reader in the form of headings and subheadings.

---

Definitions:

LIFO Reserve

A contra-asset for the excess of FIFO over LIFO inventory.

FIFO Costing

An inventory valuation method stating that the oldest inventory items are sold first, with costs of the oldest items being used to calculate profit.

Ending Inventory

The value of goods available for sale at the end of an accounting period.

LIFO Reserve

The difference between the cost of inventory calculated using the Last-In, First-Out method and the First-In, First-Out method.