Macroeconomics Is Concerned Primarily with

question 52

Multiple Choice

Macroeconomics is concerned primarily with

• A)positive economics.
• B)production and prices in particular markets.
• C)aggregate economic variables.
• D)normative issues.

Comprehend the differences and applications of FIFO, LIFO, and average inventory costing methods.

Recognize the role of purchase orders in inventory control.

Identify the characteristics and benefits of perpetual and periodic inventory systems.

Analyze the impact of inventory costing method choices on financial statements.