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NEW QUESTION: 1
Which of the following statements concerning inventory valuation is INCORRECT?
A. In order to adjust balance sheet values for a company using LIFO, an analyst would add LIFO reserve to the reported inventory value.
B. During periods of rising input prices, LIFO would underestimate gross profit.
C. LIFO is superior for income statement purposes whereas FIFO is superior for balance sheet purposes.
Answer: B
Explanation:
LIFO reports proper income or profit when prices are rising. FIFO would overestimate it.

NEW QUESTION: 2

A. Option A
B. Option E
C. Option B
D. Option D
E. Option C
Answer: B,D

NEW QUESTION: 3
When would the ideal time to use the NetCache DNS Tree Search option?
A. users always provide fully-qualified domain names
B. you want to reduce network traffic
C. users will not always provide fully-qualified domain names
D. faster resolutions are desired
Answer: C