An Advantage of LIFO Is That It Assigns the Most

question 191

True/False

An advantage of LIFO is that it assigns the most recent costs to cost of goods sold, and does a better job of matching current costs with revenues on the income statement.

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Definitions:

Sapir-Whorf Hypothesis

A theory in linguistics that suggests that the structure of a language influences its speakers' worldview or cognition, and thus people's perceptions are relative to their spoken language.

Chomskian Linguistics

A branch of theoretical linguistics founded by Noam Chomsky, focusing on the inherent structures of language and the cognitive capacities necessary for language acquisition.

Dialect

A regional or social variety of a language distinguished by pronunciation, grammar, or vocabulary, especially from the standard language of the country or region.