ASPE and IFRS Do Not Permit Companies to Use LIFO

question 23

Multiple Choice

ASPE and IFRS do not permit companies to use LIFO inventory cost method except for which of the following reason(s) .

• A)If a Canadian public company has foreigners as its majority shareholders.
• B)If a Canadian public company is listed on a US stock exchange.
• C)If a Canadian public company does more than 50% of its business outside Canada.
• D)All of the answers provide a reason.

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Definitions:

Order Management

The process of efficiently tracking and fulfilling sales orders, from initial receipt through to delivery to the customer.

Customer Service

The support and assistance provided by a company to those people who buy or use its products or services.

Service Recovery

The actions a company takes to correct a problem that a customer has encountered with its service, aimed at restoring customer satisfaction.

Customer Service

The direct interaction between a consumer making a purchase and a representative of the company that is selling it.