Select the correct statement concerning lifo liquidations from the following.
a. lifo liquidations often distort net income and may result in substantial tax payments.
b. lifo liquidations seldom distort net income and do not result in substantial tax payments.
c. lifo liquidations often distort net income and do not result in substantial tax payments.
d. lifo liquidations seldom distort nets income and may result in substantial tax payments.

Select the correct statement concerning LIFO liquidations from the following.

a. LIFO liquidations often distort net income and may result in substantial tax payments.

b. LIFO liquidations seldom distort net income and do not result in substantial tax payments.

c. LIFO liquidations often distort net income and do not result in substantial tax payments.

d. LIFO liquidations seldom distort nets income and may result in substantial tax payments.

Explanation:

LIFO liquidation refers to the practice of selling or issuing of older merchandise stock or materials in a company's inventory. Therefore, under the LIFO method, the latest purchased or produced goods are removed and expensed first. And so, the old inventory costs remain on the inventory valuation method.

carefully examine the map above. based on your knowledge of colonialism in africa, the area attributed to belgium on this map is most likely the democratic republic of the congo.