Given Equal Circumstances,which Inventory Method Probably Would Be the Most

question 38

Multiple Choice

Given equal circumstances,which inventory method probably would be the most time consuming?

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

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Definitions:

Flexible Budget

A budget that dynamically adjusts in correlation with variations in volume or activity levels.

Donations

Voluntary contributions of assets, including money or goods, to a person, group, or organization without expecting any return.

Standard Number

A benchmark or specific figure considered normal or expected under standard conditions in accounting and manufacturing.

Machine-Hours

An operational metric indicating the total hours a piece of machinery is utilized during a specified timeframe, frequently used for costing and efficiency calculations.