If All Things Are Equal,except One Company Uses LIFO During

question 124

Multiple Choice

If all things are equal,except one company uses LIFO during inflation and the other uses FIFO,then:

• A)The LIFO company will have a higher inventory turnover.
• B)The FIFO company will have a higher inventory turnover.
• C)The two companies will have the same inventory turnover.
• D)The two companies will rely upon an industry inventory turnover measurement.

---

Definitions:

Pessimistic Explanatory

A cognitive style where individuals tend to attribute negative events to stable, internal, and global factors in their explanations.

Learned Helplessness

A circumstance in which an individual is afflicted by a profound sense of impotence, often triggered by a traumatic incident or continual lack of achievement.

Break-Up

The termination of a romantic relationship, often involving emotional distress for one or both parties involved.

Dissociative Identity

A psychological condition previously known as multiple personality disorder, characterized by the presence of two or more distinct identities or personality states.