In the Connecting with Small Business box titled,"LIFO or FIFO?" the passage explained that accounting for profits may differ,depending upon ___________________.
A) the accounting method used to calculate overhead expenses
B) the accounting method used to calculate the cost of inventory
C) price and volume
D) the company's tax bracket

Question

Quizplus · Accepted Answer

The passage specifically states that LIFO and FIFO are different methods for accounting for the cost of inventory, which can affect how profits are calculated. None of the other answer choices are mentioned as factors that can affect accounting for profits in the passage.

In the Connecting with Small Business Box Titled,"LIFO or FIFO