What Is the Name Given to Thin and Wispy Clouds

question 68

Multiple Choice

What is the name given to thin and wispy clouds?

• A) cumulus
• B) stratus
• C) cirrus
• D) fog
• E) nimbus

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Definitions:

Cost Flow Assumption

An accounting method used to value inventory and determine the cost of goods sold, such as FIFO (First-In, First-Out) or LIFO (Last-In, First-Out).

Net Realizable Value

The estimated selling price of goods, minus the costs of their sale or completion, used in determining the value of inventory on hand.

LIFO

An inventory valuation method standing for Last-In, First-Out, where the most recently acquired items are assumed to be sold or used first.

FIFO

FIFO (First In, First Out) is an inventory valuation method where the oldest inventory items are recorded as sold first.