-Which Statement Is FALSE

question 91

Multiple Choice

-Which statement is FALSE?

• A)LIFO is not allowed in several countries outside the United States.
• B)IFRS does not permit the use of LIFO.
• C)FIFO and average cost are allowed in Australia and the United Kingdom.
• D)If LIFO is no longer allowed to be used in the United States, the tax burden on many companies will be lower.

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Definitions:

Social Class

A group division within society based on social and economic status.

Reaction Ranges

The concept that genetics set certain boundaries on traits, such as intelligence, which environmental factors then influence within these limits.

IQ Score

A numerical representation of an individual's intelligence quotient, comparing their cognitive abilities to others.

Philippe Rushton

A Canadian psychologist known for his controversial work on racial differences, intelligence, and behavior genetics.