Jones company is preparing the annual financial statements dated december 31 of the current year. ending inventory information about the five major items stocked for regular sale follows: ending inventory, current year item quantity on hand unit cost when acquired (fifo) net realizable value (market) at year-end a 50 $ 15 $ 12 b 80 30 40 c 10 48 52 d 70 25 30 e 350 10 5 required: compute the valuation that should be used for the current year ending inventory using the lcm rule applied on an item-by-item basis.

Arapid increase in the population of a city or town is most likely to lead to which of the following? a. higher-paying jobs. b. low housing prices. c. a seller's market. d. a drop in population density. 2b2t

Which of the following statements is correct? large corporations are taxed more favorably than sole proprietorships. corporate stockholders are exposed to unlimited liability. due to limited liability, unlimited lives, and ease of ownership transfer, the vast majority of u.s. businesses (in terms of number of businesses) are organized as corporations. most businesses (by number and total dollar sales) are organized as partnerships or proprietorships because it is easier to set up and operate in one of these forms rather than as a corporation. however, if the business gets very large, it becomes advantageous to convert to a corporation, mainly because corporations have important tax advantages over proprietorships and partnerships. most business (measured by dollar sales) is conducted by corporations in spite of large corporations’ often less favorable tax treatment, due to legal considerations related to ownership transfers and limited liability.

Choose the statement that is incorrect. a. search activity occurs only in markets where there is a shortage. b. when a price is regulated and there is a shortage, search activity increases. c. the time spent looking for someone with whom to do business is called search activity. d. the opportunity cost of a good is equal to its price plus the value of the search time spent finding the good.