The disclosure principle requires a company to reveal the costing method used to value inventory.

Name: The disclosure principle requires a company to reveal the costing method used to value inventory.
Brand: Quizplus
Rating: 4.8 (51 reviews)

Question

Quizplus · Accepted Answer

The disclosure principle requires companies to disclose their accounting methods, including the method used to value inventory. This is important for financial statement users to understand how inventory is being accounted for and valued.

The Disclosure Principle Requires a Company to Reveal the Costing