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NEW QUESTION: 1
A. Option B
B. Option C
C. Option A
D. Option D
Answer: C
NEW QUESTION: 2
Which statement(s) is/are FALSE?
I). Under the LIFO method of inventory valuation, the ending merchandise inventory would be valued at the purchase price of the most recent purchases.
II). During extended periods of rising prices, the FIFO method of inventory valuation will yield a higher cost of goods sold and a lower ending merchandise inventory, when compared to the LIFO method of inventory valuation.
III). The accounting principle of consistency prohibits any changes in the method of inventory valuation.
IV). JIT means just in time and is an inventory method where the raw materials for production are purchased in smaller quantities after orders have been taken for the manufactured products.
A. I, II and III.
B. I, II and IV.
C. II, III and IV.
Answer: A
Explanation:
I). LIFO means 'last-in, first-out'--the cost of the last items purchased are charged to the most recent sales. The merchandise inventory at the end of the year is considered to be from the oldest purchases.
II). The FIFO method will result in a lower cost of goods sold and a higher ending merchandise inventory
(valued at first-in costs).
III). While consistency should be maintained, legitimate changes are allowed. However, the nature, justification, and effect of the change on net income must be disclosed (full-disclosure principle).
IV). JIT inventory systems require reliable suppliers and efficient handling and shipping of materials.
NEW QUESTION: 3
As shown in the figure, all four switches run STP, and each parameter adopts the default value.
When a port on the root switch is blocked and cannot be sent through the port, how long will the port in the network enter the forwarding state?
A. About 15 seconds
B. About 30 seconds
C. About 50 seconds
D. About 3 seconds
Answer: C
NEW QUESTION: 4
In accordance with a just-in-time (JIT) philosophy, which of the following is regarded as a value added activity?
A. Holding inventory
B. Dispatching products to customers
C. Moving work in progress around production facilities
D. Inspecting raw material deliveries
Answer: B
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