Which of the Statements Below Explain Why Lcm Is Used

LCM allows companies to recognize a gain in value of an asset in the period the gain occurs. LCM allows companies to recognize a loss in value of an asset in the period the loss occurs.

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Allows companies to recognize a gain in value of an asset in the period the gain occurs accounting principles require conservatism when reporting financial information companies never want to report inventory on a balance hseet that is higher than replacement cost.

. Check all that apply LCM allows companies to recognize a gain in value of an asset in the period the gain occurs. LCM allows companies to recognize a gain in value of an asset in the period the gain occurs. Assets are not shown at an inflated value on the balance sheet but rather at lower of cost or replacement cost.

LCM permits companies to recognize a loss in value of an asset in the period the loss occurs. This price is then used on the balance sheet at the end of an accounting period. Check all that apply asked Sep 1 2020 in Business by NewYorican.

This means that income taxes paid will be lower lowerhigher than if the company used FIFO or weighted average inventory costing. LCM method-It is difficult at the initial level because in this case children are not able to compare any object. Assets are not shown at an inflated value on the balance sheet but rather at lower of cost or replacement cost.

Which of the statements below explain why LCM is used. Accounting principles require conservatism when reporting financial information. Assets are not shown at an inflated value on the balance sheet but rather at lower of cost or replacement cost.

Smartbook Learn with flashcards games and more for free. LCM allows companies to recognize a loss in value of an asset in the period the loss occurs. Check all that apply Companies never want to report inventory on a balance sheet that is higher than replacement cost.

Determine cost of goods sold for X-mart assuming that beginning inventory was 5000. 1 LCM allows companies to recognize a loss in value of an asset in the period the loss occurs. Calculate the LCM of 15 and 24.

Why do we close our eyes when we pray quote. Which of the statements below explain why lcm is used. Check all that apply LCM allows companies to recognize a gain in value of an asset in the period the gain occurs.

Read about Course Hero. The year 1917 was important for the wright brothers. Assets are not Check all that apply V Read about this Your answer is correct.

Many companies choose to use LIFO inventory costing during periods of rising purchase costs because reported cost of goods sold will be highest lowesVhighest. Omg becky look at her but song lyrics. Screenshot 2021-10-25 195200jpg - Which of the statements below explain why LCM is used.

Accounting principles require conservatism when reporting financial information. The method is used only when the GCF of two numbers is given. Other Math questions and answers.

Your answer is correct. Check all that apply Multiple select question. The factor technique I demonstrated above works.

Which of the statements below explain why LCM is used. The formula used to find the LCM is. Assets are not shown at an inflated value on the balance sheet but rather at lower of cost or replacement cost.

LCM allows companies to recognize a loss in value. Check all that apply a. Assets are not shown at an inflated value on the balance sheet but rather at lower of cost or replacement cost.

A b gcd a b Example. And can easily explain that frac14 is less than frac13. Who am i or who i am.

Which of the statements below explain why LCM is used. GCF given is 3. It assigns a value to inventory at the lesser of the market replacement cost or the amount it was recorded at when it was initially purchased.

Which of the statements below explain why LCM is used. Check all that apply Your answer is correct. Which of the statements below explain why LCM is used.

Accounting principles require conservation when reporting financial information 2. But the LCM comes up every time you need to find a common denominator for fractions. Cost of goods available for sale must be allocated between cost of goods sold and ending.

Net purchases were 20000 and also ending inventory was 9000. Which of the statements below explain why LCM is used. Check all that apply V Read about this Your answer is correct.

When there are no more primes that evenly divide into both numbers multiply the divisors to get the LCM. LCM allows companies to recognize a loss in value of an asset in the period the loss occurs. Cost of goods sold plus goods available for sale will equal total goods in ending Inventory.

Which of the statements below explain why LCM is used. Select all that apply Which of the statements below explain why LCM is used. Which of the statements below explain why LCM is used.

25-25png - Which of the statements below explain why LCM is used. Lower of cost or market often abbreviated LCM is an accounting method for valuing inventory. Companies cannot report inventory on a balance sheet that is higher than replacement cost.

Which erp vendor acquired peoplesoft and siebel. The GCF doesnt come up that much at this stage in mathematics though some books use it for factoring polynomial expressions by having the student find the GCF of all the terms in the polynomial and divide this value out of every term. Check all that apply Which of the following is not a benefit of cloud computing.

M Read about this. LCM allows companies to recognize a loss in value of an asset in the period the loss occurs. Assets are not shown at an inflated value on the balance sheet but rather at lower of cost or replacement cost.

Which statements below correctly describes the relationship of cost of goods sold and ending inventory. Sparkys wrongly consisted of inventory that was on consignment in its finishing inventory count. GCF Greatest Common Factor method.

Number chart-It is used for counting numbers and also useful for the learning table.

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