Accounting for inventory and cost of goods sold and for depreciation is an example of:
A)elastic uniformity.
B)finite uniformity.
C)flexibility.
D)rigid uniformity.

Question

Quizplus · Accepted Answer

Accounting for inventory and cost of goods sold and for depreciation requires some degree of flexibility because different companies have different methods for calculating these values and there are often changing market conditions that affect the values. Therefore, there needs to be some flexibility in accounting practices to accommodate these differences.

Accounting for Inventory and Cost of Goods Sold and for Depreciation