Choose the Statement Which Is Correct

question 3

Multiple Choice

Choose the statement which is correct. Assume that inventory prices are rising.

• A)The LIFO method gives the highest closing inventory figure in the statement of financial position.
• B)The FIFO method gives the highest closing inventory figure in the statement of financial position.
• C)The FIFO method gives the lowest closing inventory figure in the statement of financial position.
• D)The LIFO method gives the lowest figure for cost of sales.

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Definitions:

Path-goal Theory

A leadership theory that suggests leaders can enhance subordinate satisfaction and performance by clarifying the paths to goals and removing obstacles.

Leader Behavior

The actions and mannerisms exhibited by a person in a leadership position as they guide and manage a group of people.

Subordinate Expectations

The beliefs and assumptions employees have regarding the behavior, actions, and support they expect to receive from their supervisors or managers.

Leader Substitutes Theory

A theory suggesting that certain characteristics of the situation or the followers can diminish or replace the need for leadership.