The unity of command principle suggests that employees should receive orders from only one superior to avoid confusion and conflict.

The unity of command principle suggests that employees should report to only one manager to avoid confusion and conflicting instructions.

Human Relations Theory focuses on the importance of interpersonal relationships and employee satisfaction.

Relationship marketing emphasizes creating and maintaining long-term relationships with customers to enhance loyalty and repeat business.

Differentiation strategy focuses on creating a unique image for a product to stand out in the market.

Content marketing focuses on creating valuable content to attract and engage customers, building trust and loyalty.

Brand positioning is about creating a unique image for a product in the consumer's mind.

The Profitability Index is best for comparing projects of different sizes as it shows the value created per unit of investment.

All of the above methods (FIFO, LIFO, and Weighted Average) can be used for inventory valuation in partnership accounts.

LIFO is often preferred for tax purposes during inflation as it results in lower taxable income due to higher COGS.

LIFO is commonly used for tax purposes in the United States due to its tax advantages in inflationary periods.

LIFO is not allowed under IFRS, which prefers FIFO and weighted average methods.

FIFO is often preferred for financial reporting as it aligns with the actual flow of goods in many businesses.

The Straight-Line Method allocates an equal amount of depreciation expense each year over the useful life of the asset.

The Straight Line Method is commonly used for its simplicity and consistency in partnership firms.

The Units of Production Method is most appropriate for assets with variable usage patterns, as it ties depreciation to actual usage.

The Declining Balance Method results in higher expenses in the early years of an asset's life.

The Straight-Line Method allocates an equal amount of depreciation expense each year over the asset's useful life.

The declining balance method is often used for vehicles as they typically lose value more quickly in the early years.

The Declining Balance Method typically results in the lowest book value at the end of an asset's useful life due to accelerated depreciation.

The Declining Balance Method would likely result in the lowest book value of an asset in the early years.

The declining balance method typically results in the highest expense in the first year due to its accelerated nature.

FIFO (First In, First Out) assumes that the oldest inventory items are sold first, which can affect the cost of goods sold and ending inventory values.

The LIFO method can affect the calculation of depreciation for manufacturing equipment as it impacts the cost of goods sold and inventory valuation.

All methods of inventory valuation can be used in partnership accounting, depending on the agreement among partners.

Partnership firms can use any of the inventory valuation methods, including FIFO, LIFO, and Weighted Average, depending on their accounting policies.

LIFO (Last In, First Out) is most affected by inflation as it results in lower ending inventory values and higher cost of goods sold during inflationary periods.

FIFO would result in higher taxes during inflation because it reports higher profits due to lower cost of goods sold.

LIFO would likely result in lower taxes during rising prices due to higher cost of goods sold.

LIFO would likely result in lower taxes during inflationary periods because it matches higher current costs against revenues.