Which of the Following Is Not an Advantage of LIFO

question 81

Multiple Choice

Which of the following is not an advantage of LIFO over FIFO?

• A)lower income taxes
• B)better inventory figure on balance sheet
• C)better matching of revenues and costs on the income statement
• D)cost of goods sold better approximates current replacement cost

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Definitions:

Psychoanalytic Therapy

A therapeutic approach developed by Freud that aims to explore unconscious motivations and conflicts as a means of treating psychological distress.

Overgeneralization

A cognitive error involving making broad interpretations from a single or few events.

Depression

A mental health disorder marked by persistent feelings of sadness, emptiness, or hopelessness, often accompanied by a lack of interest or pleasure in activities.

Delusional Thinking

A belief strongly held despite clear evidence against it, often indicative of a psychological disorder.