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

NEW QUESTION: 2

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

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