Which of the Following Is a Reason for Not Using

question 153

Multiple Choice

Which of the following is a reason for not using the specific identification method?

• A)It is impractical to keep track of the purchase and sale of individual items.
• B)Deciding which of many identical items sold would be arbitrary.
• C)Deciding whether lower or higher-priced identical items sold could be a means of manipulating income.
• D)All of these are reasons for not using the specific identification method.

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Definitions:

Consumers

Individuals or entities that purchase goods or services for personal use, not for manufacture or resale.

Firms

Business entities that produce goods or provide services with the aim of making a profit.

Entrepreneur

An individual who creates, organizes, and operates a business or businesses, taking on financial risk to do so.

Profit

The financial gain achieved when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes.