Which of the Following Statements Is True

question 79

Multiple Choice

Which of the following statements is true?

• A)The flow of inventory costs should match the physical flow of the merchandise.
• B)Accounting standards require that merchandise costs be specifically traced to units left in inventory and to units that have been sold.
• C)Accountants have developed methods which make assumptions concerning how costs should be assigned to inventory and cost of goods sold.
• D)Alternative inventory cost-flow assumptions have the same effect on the amount of net income reported.

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Definitions:

Lesbian Women

Women who are romantically and sexually attracted to other women.

Parents

Individuals who have conceived, adopted, or acted as the primary caregiver to a child, responsible for their child's upbringing, development, and welfare.

Previous Heterosexual Relationships

Past romantic or sexual relationships between individuals of opposite sex.

Same-Sex Parented Homes

Households where children are raised by parents of the same sex, either biological or adoptive.