Which Costing Method Is Based on the Reasoning That the Fairest

question 90

Multiple Choice

Which costing method is based on the reasoning that the fairest determination of income occurs if the current costs are matched against current sales prices?

• A)Specific identification
• B)FIFO
• C)Average-cost
• D)LIFO

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Definitions:

Molecular Size

The dimensions or volume of a molecule, which affects its physical and chemical properties.

Filtration Experiment

A laboratory process used to separate solids from liquids or gases using a barrier or filter.

Glucose

A simple sugar that is an important energy source in living organisms and a component of many carbohydrates.

Hypertonic

A solution with a higher concentration of solutes compared to another solution, leading to osmosis.