A company decides to ignore a very small error in its inventory balance.This is an example of the application of the ________.
A) conservatism
B) materiality concept
C) disclosure principle
D) consistency principle
Correct Answer:
Verified
Q2: Which of the following principles states that
Q3: The consistency principle states that a business
Q4: A company reports in its financial statements
Q5: A company changes its inventory costing method
Q6: Which of the following states that the
Q7: Which of the following is an application
Q8: Changing the method of valuing inventory ignores
Q9: The goal of reporting realistic figures and
Q10: A company is uncertain whether a complex
Q11: A company should not change the inventory
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents