Exhibit 15-6

question 67

Multiple Choice

Exhibit 15-6.Tiffany & Co.has been the world's premier jeweler since 1837.The performance of Tiffany's stock is likely to be strongly influenced by the economy.Monthly data for Tiffany's risk-adjusted return and the risk-adjusted market return are collected for a five-year period (n = 60) .The accompanying table shows the regression results when estimating the CAPM model for Tiffany's return. Refer to Exhibit 15-6.When testing whether there are abnormal returns,the conclusion to the test is at the 5% significance level is:

• A)Reject H₀,and conclude there are abnormal returns.
• B)Do not reject H₀,and conclude there are abnormal returns.
• C)Reject H₀,and do not conclude there are abnormal returns.
• D)Do not reject H₀,and do not conclude there are abnormal returns.

Grasp the concept and application of FIFO, LIFO, and weighted average inventory costing methods.

Recognize the start and control mechanisms of inventory management.

Understand the role of inventory controls in the accounting and financial reporting process.

Distinguish between perpetual and periodic inventory systems and their impact on financial statements.

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