When there is a net increase in the physical quantity of inventory during a period, the use of ________ results in an additional layer of inventory.a. FIFOb. LIFO
c. average cost

Answers

Answer 1

Answer:

(B) LIFO

Explanation:

LIFO accounting is a method used in managing inventory and financial matters.

LIFO stands for “Last-In, First-Out”.

This method of accounting assumes that the recently purchased inventory be sold first. It is a method used for cost flow assumption purposes in the cost of goods sold calculation.

Then, LIFO INVENTORY LAYER is a portion of LIFO inventory cost on a balance sheet.

The ending inventory in physical quantity will usually exceed the beginning inventory.

The LIFO cost flow assumption assigns to this increases in physical quantities a cost computed from the prices of the earliest purchases during the year.

The LIFO inventory then consists of layers, or slices, which typically consists of relatively small amounts of physical quantities from each of the past years when purchases in physical units exceeded sales in units.

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al roy bought five bonds of jort co 11 3/4 at 93.25 and four bonds of inst system 12x08 for 81.125. if the commission on the bonds is 2.50 per bond, the total cost of all the purchases is

Answers

the answer is $477.9 + $332.6 = $810.5

2.5% of $93.25= $2.331
2.5% of $81.125 = $2.028
five bonds of Jort Co. 11 3/4 = 5 * ($93.25 + $2.331) = $477.9
four bonds of Inst. System 12x08 = 4 * ($81.125 + $2.028) = $332.6
Therefore the answer is $477.9 + $332.6 = $810.5

Department is related to organization as employee is related to what

Answers

I would say that the answer to this question is most likely staff. Just as departments are subdivisions and part of a larger organization, employees are part of a larger staff or workforce.

If the total assets of a business are $107,000 and its liabilities are $75,000, which of the following statements is correct?a. liabilities are $32,000
b. liabilities are $42,000
c. liabilities are $57,000
d. liabilities are $98,000

Answers

Answer:

a. liabilities are $32,000

Explanation:

Note: In question part $75,000 shall represent equity, as there are only 3 parts of balance sheet assets, equity and liabilities, if assets are given liabilities is what we need to calculate the missing is equity.

Thus, $75,000 is treated as equity.

In that case we have,

Assets = Equity + Liabilities

$107,000 = $75,000 + Liabilities

Assets - Equity = Liabilities

$107,000 - $75,000 = Liabilities

$32,000 = Liabilities

Therefore, correct option is

a. liabilities are $32,000

When both parties are expecting to gain from a transaction, they are conducting a __________ trade.

Answers

When both parties are expecting to gain from a transaction, they are conducting a Voluntary trade. In a Voluntary trade, both the sell and buyers involved in the transaction based on their own free will and expecting to gain a profit from the trade

Answer: voluntary trade

Explanation:

Government can encourage entrepreneurs byA.)tax incentives
B.)raising interest
C.)raising taxes
D.)making it harder to start a buisness

Answers

A. Tax incentives. Entrepreneurs are being encouraged by the government to put up business through tax incentives. Tax incentives may be in the form of tax holiday wherein the firm will not pay taxes for a certain period of time provided that it meets all the conditions laid out by the government. Another incentive would be a tax reduction or rebates. Tax exemptions are also a form of tax incentive to invite entrepreneurs to do business.

although stocks can generate greater revenue, they are also more risky than many forms of investments. true or false

Answers

The correct answer for the question that is being presented above is this one: "TRUE." Although stocks can generate greater revenue, they are also more risky than many forms of investment. Dividends are not guaranteed; each company's board of directors has to vote to issue dividends, and they may not always do so.

Answer:

True

Explanation:

I took the test

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