单项选择题 Selected information from Hometown, Inc.抯 financial statements for the year ended December 31, 2001 included the following (in $):Cash 370,000 Accounts Payable 915,000Accounts Receivable 820,000 L.T. Deferred Tax Liability 640,000Inventory 1,050,000 Long-term Debt 2,220,000Property, Plant & Eq. (net) 3,200,000 Common Stock 1,000,000Total Assets 5,440,000 Retained Earnings 665,000Total Liabilities and Equity 5,440,000LIFO Reserve at January 1 325,000LIFO Reserve at December 31 500,000Income Tax Rate (percent) 40Hometown used the last in, first out (LIFO) inventory cost flow assumption. If Hometown changed from LIFO to first in, first out (FIFO) in 2001, Hometown 抯 current ratio would:A.increase from 2.45 to 2.63.B.be unchanged.C.increase from 2.45 to 2.99.D.increase from 2.45 to 2.80.

单项选择题 Which of the following statements are TRUE?

单项选择题 Data Corp. manufactures and sells computer equipment. The following information is available concerning a transaction between Data and Venture, Inc.:On November 30, 2001 Data Corp. received a signed purchase order from Venture Inc. for 100 model D computers at a price of $150,000. Under the terms of the purchase order, Data arranges and pays for shipping, risk of ownership passes upon delivery, and the transaction is not subject to revocation. On December 29, 2001 100 model D computers were shipped from Data Corp.抯factory. On December 31, 2001 Data Corp. received cash payment for the computers in the amount of $150,000. On January 2, 2002 the computers were received at Venture, Inc.抯 headquarters.Data Corp. should recognize $150,000 of revenue as of:A.January 2, 2002.B.November 30, 2001.C.December 29, 2001.D.December 31, 2001.