A III 16 Tax liability would be lowest in a reporting period using (under inflationary conditions) any inventory costing method, it is all the same a. b. Averge Cost (AC) LIFO FIFO C. d 17 One would most likely use the Equity Method in valuing intercorporate investments if the investment had less than one year to maturity a. b. if ownership of the security was designated as Held to Maturity (HTM) C. d 18 When a company has control (over 50% of outstanding stock in investee company) than the Fair Value Method of reporting is required a. b. C. d a. b. 19 Asset that exhibit little or no influence are described as Property Plant and Equipment (PPE) long-term investments C. d if ownership of the security exhibited evidence of significant influence if ownership of the security does not exhibit evidence of significant influence a. b. C. d than the Equity Method of reporting is required than the Consolidation Method of reporting is required than the Sum-of-the-Years' Digits Method of reporting is required 20 Firms ca