Under the disclosure principle, the inventory accounting method must be described in the footnotes.

Name: Under the disclosure principle, the inventory accounting method must be described in the footnotes.
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Question

Quizplus · Accepted Answer

The disclosure principle requires companies to include in their financial statements all necessary information for stakeholders to make informed decisions. This includes describing the inventory accounting method used. Therefore, the statement is true.

Under the Disclosure Principle, the Inventory Accounting Method Must Be