Which of the Following Is NOT Acceptable for Financial Accounting

question 68

Multiple Choice

Which of the following is NOT acceptable for financial accounting purposes?

• A) specific identification
• B) FIFO
• C) LIFO
• D) retail cost

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Definitions:

Conglomerate Merger

A merger between companies operating in unrelated business activities, aiming to diversify business operations and investments.

Unrelated Industries

Industries that have no direct business connection or overlap with each other.

Strategic Mergers

The process of combining two or more companies into one, with the aim of achieving strategic objectives such as market expansion, diversification, or efficiency gains.

Financial Markets

Markets in which financial assets are traded—for example, the stock market.