(TCO B) In a period of declining prices, which of the following inventory methods generally results in the highest gross profit figure?(Points : 3)

Average cost method

LIFO

FIFO

Cannot be determined based on the information given

Question 9. 9. (TCO A) On a classified balance sheet, which is the least liquid asset listed below?(Points : 3)

Inventories Cash and cash equivalents Accounts receivable, net Short-term investments

Question 10.10. (TCO E) Which of the following is a component of internal control?(Points : 3)

Safeguard assets Limited access Risk assessment Encourage employees to follow company policies.