Which of the Following Statements Is Correct

question 28

Multiple Choice

Which of the following statements is correct?

• A)FIFO reports lower income amounts than LIFO when prices are increasing.
• B)LIFO reports a higher income amount than FIFO when prices are increasing.
• C)LIFO reports a higher income amount than FIFO when prices are decreasing.
• D)LIFO reports the same amount of income as FIFO when prices are increasing.

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Definitions:

Balance

The ability to maintain a stable and controlled body position while stationary or moving.

Motor Activity

Bodily movements produced by skeletal muscles that result in energy expenditure; essential for various physical actions.

Competent Development

The process of acquiring the skills, knowledge, and attributes necessary to perform effectively in a particular developmental stage or domain.

Safety

The condition of being protected from or unlikely to cause danger, risk, or injury.