Baker Corporation Changed from the LIFO Method to the FIFO

question 89

Multiple Choice

Baker Corporation changed from the LIFO method to the FIFO method for inventory valuation during 2013. Baker has an effective income tax rate of 30 percent and 100,000 shares of common stock issued and outstanding. The following additional information is available: Assuming Baker makes the change in the first quarter of 2013, compute net income per common share.

• A) $4.92.
• B) $4.95.
• C) $5.00.
• D) $5.05.
• E) $5.28.

Understand the taste sensations associated with different chemicals.

Know the neural pathway taste impulses take to reach the brain.

Understand the process of sensory adaptation in olfaction and gustation.

Distinguish between the supporting structures of olfactory and gustatory systems and their functions.

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Definitions:

Escape Response

A behavioral response to an aversive event that is reinforced by the termination of the aversive event.

Punishment

The introduction of a consequence in response to a behavior with the intent to decrease the likelihood of that behavior occurring in the future.

Suppressive Influence

The impact or effect that reduces, inhibits, or diminishes a particular response, activity, or expression.

Mowrer

A psychologist known for his two-factor theory of avoidance learning, which combines classical and operant conditioning theories to explain how anxiety and phobias are learned and maintained.