Which of the Following Is/are True

question 169

Multiple Choice

Which of the following is/are true?

• A)Acquisition cost for a merchandising firm includes the costs incurred to purchase and transport the inventory prior to sale.
• B)Acquisition cost for a manufacturing firm includes the direct material, direct labor, and manufacturing overhead cost to produce the inventory.
• C)If the market values of inventory items decline below acquisition cost prior to sale, firms must reduce their balance sheet carrying values using the lower of cost or market method.
• D)U.S.GAAP uses a combination of replacement cost and net realizable values to measure market value.
• E)all of the above

---

Definitions:

Restitution

Compensation provided for loss, damage, or injury through the payment of money or by repairing or replacing the item.

Deepwater Horizon

An offshore drilling rig that exploded in 2010 in the Gulf of Mexico, causing one of the largest environmental disasters in U.S. history.

Social Media Presence

The extent to which an individual or organization is active, engaged, and visible on social media platforms.

PR Aspect

The component of any activity or strategy aimed at managing the public perception and reputation of an individual or organization.