PLEASE ANSWER ALL, ITS URGENTAND ASAP

1.The weighted-average cost inventory cost flow method can be described by all of the following except:

Top of Form

Multiple Choice

• Is not subject to income manipulation.
• Assigns the same unit cost to cost of goods sold and to ending inventory.
• Involves assignment of the total cost of goods available for sale to cost of goods sold and ending inventory only at the end of the period.
• Is generally used with a perpetual inventory system.

2.

Which of the following methods permits total amortization on a plant asset to exceed depreciable cost?

Top of Form

Multiple Choice

• Sum-of-the-years'-digits
• Declining balance
• There is no such method
• Straight-line
• All acceptable methods if salvage value is not zero

3.

Gains or losses upon the retirement of individual asset units are not recognized when the assets concerned are:

Top of Form

Multiple Choice

• natural resources.
• depreciated by an accelerated method.
• subject to appraisals previously recorded. WRONG ANSWER
• depreciated under the group system.
• depreciated under the straight-line method.