need help with these 3

LIFO inventory valuation is used during inflationary times because it increases cost of goods sold which reduces taxable income. True False 4 pts D Question 28 An example of contingency that needs to be footnoted in the Notes to the Financial Statements would be a one-year operating lease O True O False Question 29 4 pts An asset where the cost of the asset is lower than the market value would not be an impaired True