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  3. 1. unlike rent, salaries, and utilities, depreciat

1. Unlike rent, salaries, and utilities, depreciation A. is more likely to involve an estimate....

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Accounting

1. Unlike rent, salaries, and utilities, depreciation

A. is more likely to involve an estimate.

B. is a non-cash expense.

C. is not an expense.

D. both A and B are correct.

E. both A and C are correct.

2. A supermarket that uses the LIFO inventory method for accounting purposes during

a period of rising prices (increasing purchase costs)

A. will report higher total assets than if it had used a different inventory method.

B. increases the chances that customers may experience health problems

after they purchase its dairy products.

C. will report a lower net income than if it had used a different inventory method.

D. both A and B are correct.

E. both B and C are correct.

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