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QUESTION 27 Suppose that a firm decides to switch the way that they value inventory from FIFO to LIFO. What is this activity considered? A.
QUESTION 27
Suppose that a firm decides to switch the way that they value inventory from FIFO to LIFO. What is this activity considered?
A. | Restructuring | |
B. | Discontinuance | |
C. | A peripheral activity | |
D. | A change in accounting principle |
4 points
QUESTION 28
The reporting methods and accounting principles used outside the U.S. will always be the same as those used by U.S. companies.
True
False
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