Which of the Following Statements Is Not a Characteristic of the LIFO

question 63

Multiple Choice

Which of the following statements is not a characteristic of the LIFO method of pricing inventory?

• A)During a period of rising prices,LIFO tends to minimize the amounts of income taxes owed.
• B)The cost of goods sold is measured in relatively current costs.
• C)Inventory is valued at relatively current costs.
• D)During a period of falling prices,LIFO tends to maximize the amounts of income taxes owed.

---

Definitions:

Branch Lengths

In phylogenetics, the distances on a tree diagram that represent the amount of evolutionary change or time.

Genetic Difference

Variations in the DNA sequences among individuals, populations, or species that contribute to biological diversity.

Haplotype Frequency

The commonness of a specific combination of alleles at different loci within a chromosome segment in a population.

Maladaptive

Behaviors or traits that are counterproductive to the survival or reproductive success of an organism.