Which of the following accounting policies is an example of costs versus benefits constraint being exercised in the disclosure of financial information?
A) Inventory is valued at lower of cost or market.
B) Property, plant and equipment are appraised and revalued every three years.
C) Biological assets are stated at fair value unless the fair value cannot be measured reliably.
D) Research and development costs are expensed as incurred.

Question

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The Answer of Which of the following accounting policies is an example of costs versus benefits constraint being exercised in the disclosure of financial information?
A) Inventory is valued at lower of cost or market.
B) Property, plant and equipment are appraised and revalued every three years.
C) Biological assets are stated at fair value unless the fair value cannot be measured reliably.
D) Research and development costs are expensed as incurred.

Which of the Following Accounting Policies Is an Example of Costs