Why Are Some U

question 32

Multiple Choice

Why are some U.S.companies opposed to elimination of the LIFO inventory method?

• A)Inventory amounts are more difficult to calculate under FIFO.
• B)LIFO most likely matches actual flow of inventory.
• C)Increased tax burden.
• D)Most international companies use LIFO.

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Definitions:

Civil Rights

Legal provisions and freedoms that guarantee protection from discrimination based on race, gender, religion, etc.

1968 Election

The United States presidential election held in 1968, marked by the victory of Richard Nixon amid a period of national turmoil including protests against the Vietnam War and civil rights movements.

Republican Presidential

usually pertains to matters, candidates, or campaigns associated with the Republican Party in the context of the U.S. Presidential elections.

Democratic Party

A major political party in the United States known for its liberal platform, advocating for social equality, environmental protection, and government intervention in the economy to provide public services.