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DO. LIFO 8 ) Which of the following is true of the FIFO cost How assumption ? a in a period of rising prices , FIFO yields a higher cost of goods sold than other costing In . in a period of falling prices , FIFO yields a higher ending Inventory than other casting O c. In a period of falling prices , FIFO yields a higher net income than other costing methods a in a period of rising prices , FIFO yields a lower net moome than other costing methods D . In a period of rising prices , FIFO yields a higher ending inventory than other costing Which of the following accounts shows the cost of an asset expensed to a . Equipment O b . Alowance for doubtful accounts Do . Depreciation expense D d Accumulated depreciation De Land 8 ) What type of account is accumulated depreciation ? OR Equity Ob Contra asset OC Liability Do. Expense De Loss Which of the following accounts wil be shown on the balance sheet with an accumulated depreciation account ? Da Prepaid rent On Building Da Land Do . Cash De Goodwill 10 ) Which of the following is used to gauge the fair value of a business as a O a Fair value capitalization D D. Market capitalization Do. Market rationalization O d Fair value rationalization Do . Market depreciation 1 1 ) Property and equipment are reported at its : O a fair value