Which of the following statements about inventory valuation are incorrect ? A A taxpayer may write...

Which of the following statements about inventory valuation are incorrect ?
A
A taxpayer may write down inventory below market if he has
offered for sale the same merchandise at below market
value.
B
FIFO treats the inventory purchased first as the first
inventory sold.
C
If the “dollar value” LIFO method is used it is optional to
break up the inventory into “pools”.
D
LIFO treats the inventory purchased last as the first
inventory sold

Expert Solution

jeff jeffy answered 2 years ago

Which of the following statements about inventory valuation areincorrect ?AA taxpayer may write...

Which of the following statements about inventory valuation are incorrect ?AA taxpayer may write down inventory below market if he hasoffered for sale the same merchandise at below marketvalue.BFIFO treats the inventory purchased first as the firstinventory sold.CIf the “dollar value” LIFO method is used it is optional tobreak up the inventory into “pools”.DLIFO treats the inventory purchased last as the firstinventory sold.

Which of the following statements about the autonomic nervous system is INCORRECT?

Which of the following statements about the autonomic nervous system is INCORRECT? A The preganglionic fibres in the parasympathetic division are usually long compared to the postganglionic fibres B The sympathetic division mediates responses that allow the body to respond to 'flight and fright' situations C The ganglia of the sympathetic division are usually close to the spinal cord D The adrenal medulla is a sympathetic ganglion E The parasympathetic nerves arise from the brain stem and the sacral region...

13. Which of the following statements is INCORRECT about trading on margin A. It is a...

13. Which of the following statements is INCORRECT about trading on margin A. It is a leveraged equity investment. B. Stocks purchased on margin are registered in street name. C. It increases payoff both on the upside and downside. D. In general, a limit-buy order may be placed to limit potential losses. 17. Consider the following short sale example: an investor borrows 100 shares of a stock from the broker, put down 50% as the initial margin, and sells the...

Which of the following statements about solubility is INCORRECT? A. It is a nonspontaneous process. B....

Which of the following statements about solubility is INCORRECT? A. It is a nonspontaneous process. B. A solution does not form if there is no change in internal energy during the dissolution process. C. It always involves a release of heat energy. D. An increase in disorder always results when a solution forms.

Which of the following statements about quantum theory is incorrect? a. The energy and position of...

Which of the following statements about quantum theory is incorrect? a. The energy and position of an electron cannot be determined simultaneously. b. Lower energy orbitals are filled with electrons before higher energy orbitals. c. When filling orbitals of equal energy, two electrons will occupy the same orbital before filling a new orbital. d. No two electrons can have the same four quantum numbers. e. All of these are correct. The answer is C for Hund's rule but why A...

74. Which of the following statements is incorrect? &nbsp

74. Which of the following statements is incorrect? A. β- hemolytic Streptococci show complete clearing around the colonies on Blood Agar. B. Stapylococci can be isolated on Phenyl Ethanol Agar and always ferment mannitol on Mannitol Salt Agar. C. Chocolate agar provides NAD and hemin thus supports the growth of Haemophilus influenzae D. Salmonella appears as yellow colonies with black centers on Salmonella-Shigella agar 75. Which of the following statements is incorrect? A. Typhoid fever is a systemic...

Which one of the following statements is incorrect?

Which one of the following statements is incorrect? 1) Scarcity is a universal phenomenon that arises because resources are limited 2) Microeconomics is the branch of economics which studies how individual decision-makers behave and interact with each other 3) Macroeconomics is the branch of economics which studies the functioning and performance of a society's economy as a whole (often with a focus on levels of and changes in aggregate measures such as the unemployment rate, inflation rate, and Gross Domestic Product growth rate). 4)...

Which of the following statements about meiosis and/or mitosis is incorrect? a. Mitosis results in 2...

Which of the following statements about meiosis and/or mitosis is incorrect? a. Mitosis results in 2 diploid daughter cells b. Meiosis in humans only occurs in gonad cells c. Homologous chromosomes line up along the metaphase plate during mitosis d. Crossover occurs during prophase I of meiosis.

Which one of the following statements about bond strengths and bond lengths is incorrect?

What determines a strength and length of a bond? Which one of the following statements about bond strengths and bond lengths is incorrect? a) A carbon-oxygen single bond is longer than a silicon-oxygen single bond. b) A carbon-oxygen single bond is longer than a carbon-fluorine single bond. c) A sulfur-hydrogen bond is weaker than an oxygen-hydrogen bond. d) A silicon-silicon bond is longer than a carbon- carbon bond. e) A carbon-iodine bond is longer than a carbon- bromine bond.

which of the following statements about the charge distribution on the amino acid glutamate is incorrect...

which of the following statements about the charge distribution on the amino acid glutamate is incorrect ? glutamate has three different ionizable groups at a very low pH, the most abundant form of glutamate will have net charge of +1 at a very high pH the most abundant form of glutamate will have a net charge of -2 at a pH of aprox. 3.2 glutamate will not contain any charged groups all of the above are correct

Question