Question: Under the specific-identification method, the flow of goods through the accounting records will: a.be the opposite of the physical flow of goods through the business.b.closely

Under the specific-identification method, the flow of goods through the accounting records will:

a.be the opposite of the physical flow of goods through the business.b.closely match the physical flow of goods through the business.c.exactly match the physical flow of goods through the business.d.have no relationship to the physical flow of goods through the business.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Consider the Sherwin-Williams Company example discussed in this chapter (see Table 4.1). Suppose one is interested in developing a simple regression model with paint sales (Y) as the dependent...

Subject: Answers to attached-questions QUESTION 1 A method of valuing inventory based on the assumption that the oldest goods will be sold first is called the: A. LIFO method. B. specific cost...

1. Under the LIFO method, the flow of goods through the accounting records will: A) be nearly the opposite of the physical flow of goods through the business. B) closely match the physical flow of...

this is a final exam pleaselook over it and help me out 1.Inventory for a merchandising business is classified as a(n): A. part of Stockholders' Equity. B. liability. C. asset. D. revenue. 2.If there...

1Under the average cost method, the flow of costs through the accounting records will: A.be nearly the opposite of the physical flow of goods through the business. B.closely match the physical flow...

1-If period 1 ending inventory is understated , than : A. Both cost if goods sold and net income are understated in period 1. B. Cost of goods sold is understated and net income is overstated in...

Under the average cost method, the flow of costs through the accounting records will: Question content area bottom Part 1 A . closely match the physical flow of goods through the business. B . be...

When the bank takes money out of a company's account, why does the bank say that they have debited that account? The bank has decreased the company's assets and assets decrease with debits. The bank...

1. A method of valuing inventory based on the average of units is called the: A. average cost method. B.LIFO method. C.specificunitcost method. D.FIFO method. 2. The various inventory costing methods...

Spicy Salsa Company produces its condiments in two types: Extra Fine for restaurant customers and Family Style for home use. Salsa is prepared in department 1 and packaged in department 2. The...

Susan Zupan, a lawyer, accepts a legal engagement in March, performs the work in April, and is paid in May. If Zupans law firm prepares monthly financial statements, when should it recognize revenue...

An e - commerce company is applying machine learning to customer data to personalize recommendations. Which analytics approach is the company using? Descriptive Analytics Diagnostic Analytics...

Have I completed the Membership Subscriptions Journal correctly? Members Subscriptions Description a (1 1/07/2021|Subscriptions in Arrears | aso] | to Subscriptions in Advance...

One-Month Project: Ellipses Corp.Ellipses Corp. is a small business that operates in Herndon, VA. The company is locatedat 10 Period Lane, Herndon, VA 20170. Its federal Employer Identication Number...

Problem 4. (15pt) Suppose that Netflix is considering the design of its membership programs. There are three types of membership programs for customers: Basic, Standard, and Premium. You are the data...

Plot the distribution of active pressure on the wall surface shown in the figure below. Calculate the total thrust on the wall (active + hydrostatic) and determine its point of application. Assume...

Project Llama Case Study Assignment: General Overview you will prepare two Proforma Models that depict two different scenarios; a MANAGEMENT CASE and your own MOST LIKELY (BASE) Case. This memo will...

Question 7 . Given the following simple maze, convert the maze into a graph. ( 5 points ) Question 8 . Implement depth first search in the maze function in homework 1 . py . ( 2 0 points ) Question 9...

2. Now change the performance so that you play out the dream in your inner the-atre. Apply colours to the images you envision. Give some pictures a stronger colour than others and vice versa. Also...

1. Imagine that you have already achieved a dream or a goal you have set for yourself. Both the goal and the dream correspond to your basic values. Try to visualize this dream or goal. What do you...

4. What means will you use to achieve these values?