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NEW QUESTION: 1
When prices are rising, which of the following inventory valuation methods produces the lowest income tax liability?
A. FIFO
B. Average cost
C. LIFO
D. None of these answers
Answer: C
Explanation:
Explanation/Reference:
Explanation:
When prices are rising, LIFO will produce the lowest profit, and the lowest income tax liability, because the last in (highest cost) inventory is the first out. This leaves the oldest inventory on hand and since it has the lowest cost, ending inventory will have the lowest value which means that cost of goods sold will be the highest and profits will be the lowest (ending inventory = beginning inventory + net purchases - cost of goods sold).
NEW QUESTION: 2
Which of the following virtualization characteristics allows the use of different types of physical servers?
A. Security
B. Scalability
C. Hardware independence
D. Variable costs
Answer: C
NEW QUESTION: 3
How does the project plan help to support the 'manage by stages' principle?
A. By identifying the customer's quality expectations
B. By defining products to ensure they are fit for purpose
C. By estimating the timescales and costs of the project
D. By identifying the major control points and milestones
Answer: D
Explanation:
Explanation
Reference
http://prince2.wiki/Manage_by_stages
NEW QUESTION: 4
Which is the preferred file system for Windows computers?
A. FAT32 file system
B. FAT file system
C. CDFS
D. NTFS file system
Answer: D