Which of the Following Is a Required Disclosure for Inventory

question 48

Multiple Choice

Which of the following is a required disclosure for inventory?

• A)Inventory valuation method used (FIFO,LIFO,moving average)and percentage of inventory valued under each method.
• B)LIFO or current cost if the inventory is valued using FIFO.
• C)Type of inventory system used (periodic or perpetual).
• D)All of the above.

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Definitions:

Antistatic Wrist Strap

An antistatic wrist strap, also known as an electrostatic discharge (ESD) wrist strap, is a safety device used to prevent the buildup of static electricity on a person's body, which can cause damage to electronic components.

Disassembly Procedures

The systematic process of taking apart a device or product to understand its internal components, usually for repair or examination purposes.

Hub

A device used with the universal serial bus or in a star network topology that allows multiple device connections. A network hub cannot look at each data frame coming through its ports like a switch does. It forwards data frames (packets) to all ports.

Transmit Data

The process of sending data from one place to another through a communication medium, such as over a network or through a radio signal.