The qualitative characteristic, reliability, is the primary consideration to a business considering changing its inventory costing method.

Question

Quizplus · Accepted Answer

The primary qualitative characteristic considered when changing inventory costing methods is relevance, not reliability. Relevance ensures the financial information meets the users' needs for decision-making, while reliability focuses on the dependability of that information.

The Qualitative Characteristic, Reliability, Is the Primary Consideration to a Business