What is base year?
Submitted by: AdministratorIn accounting, base year may refer to the year in which a business had adopted the LIFO cost flow assumption for valuing its inventory and its cost of goods sold. Under the dollar-value LIFO technique a company's current inventory is restated to base-year prices in order to determine whether the quantity of inventory has increased or decreased.
Submitted by:
Submitted by:
Read Online Business Ratios Job Interview Questions And Answers
Top Business Ratios Questions
☺ | What is Accrued compensation? |
☺ | What is NOI? |
☺ | Described turnover? |
☺ | Define leverage? |
☺ | Described financial leverage? |
Top Business and Economics Categories
☺ | Taxation Interview Questions. |
☺ | Economics Interview Questions. |
☺ | Accounts Receivable (AR) Interview Questions. |
☺ | General Ledger Interview Questions. |
☺ | Fixed Assets Interview Questions. |