A. True or false: Recording an impairment loss will reduce working capital.

B. Ursula's Umbrellas has been forced to reduce the value of its see-through umbrellas due to their declining popularity. True or false: As the result of applying lower of cost or market, gross profit will decrease.

C. True or false: A company looking to decrease its Average Days in Inventory could do so by holding less inventory in its warehouse, therefore decreasing the dollar value of of inventory on the balance sheet.