278. In a period of rising costs, which inventory valuation method would a company likely choose if they want to have the highest possible balance of inventory on the balance sheet?
     1. Weighted-average cost. B) FIFO.

C) LIFO. D) Periodic.

279. Which of the following is a negative sign that a company is not selling its inventory quickly?
     1. A high inventory turnover ratio.
     2. Both a high inventory turnover ratio and a low average days in inventory.
     3. A low average days in inventory.
     4. A low inventory turnover ratio.

Sales revenue	$440,000
Advertising expense	60,000
Interest expense	10,000
Salaries expense	55,000
Utilities expense	25,000
Income tax expense	45,000
Cost of goods sold	180,000

298) What is net income?

A) $120,000. B) $65,000. C) $110,000. D) $60,000.

299. When a firm gets riskier what will happen to its bonds
     1. the stated interest rate of the bonds will go down
     2. the stated interest rate of the bonds will not change
     3. there is no definite answer
     4. the stated interest rate of the bonds will go up
300. For a journal entry with only two lines, the following entry is valid: Decrease in Owners' Equity, Increase in Dividends.
     1. False B) True