Assuming annual inflation of 7%, which of the following is most likely to be correct? A. Using the LIFO Inventory method will likely result in a higher Net Income than using FIFO. B. Using the FIFO Inventory method will likely result in a higher Net Income than using LIFO. C. Using the LIFO Inventory method will likely result in the current inventory being valued at near actual replacement cost. D. A and C are correct. E. B and C are correct. Which of the following is NOT an objective of the SEC?| A. Facilitate capital formation B. Develop GAAP standards C. Protect investors D. Maintain fair, orderly, and efficient markets E. All of the above are objectives of the SEC Which of the following will likely result in a higher Gross Profit Margin percentage? A. Increasing the selling price of the product by 10%. B. Paying off all debt to eliminate interest expense. C. Reducing Selling, General, and Administrative expenses by 25%. D. Increasing the number of units sold by 10%. E. Both C and D are correct. Given a firm has a Current Ratio of 4.5, which of the following statements are correct? A. The firm will have difficulty meeting its short-term financial obligations. B. The firm has high liquidity and should be able to pay its Current Liabilities as they come due. C. The firm may be underutilizing its assets. D. The firm has high leverage. E. Both B and C are correct. Two firms are identical, except Company A pays higher dividends and lower interest charges, while Company B pays lower dividends and higher interest charges. This will result in: A. Company A having both a higher Operating Cash flow and a higher Financing Cash Flow. B. Company B having both a higher Operating Cash flow and a higher Financing Cash Flow. C. Company A having both a higher Operating Cash flow and a lower Financing Cash Flow. D. Company B having both a higher Operating Cash flow and a lower Financing Cash Flow. E. None of the above are correct