The Consistency Concept

question 12

Multiple Choice

The consistency concept:

• A)Prescribes a company use the same accounting method of inventory valuation,an exception being when a change from one method to another will improve its financial reporting.
• B)Requires a company to use one method of inventory valuation exclusively.
• C)Requires that all companies in the same industry use the same accounting methods of inventory valuation.
• D)Is also called the full disclosure principle.
• E)Is also called the matching principle.

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Definitions:

Cognitive Enhancement

Brain function enhancement by pharmacological, physiological, or surgical manipulation.

Pharmacological Manipulation

Pharmacological manipulation refers to the alteration of neurotransmitter systems through drugs or medications, often used to study brain functions or treat mental disorders.

Surgical Manipulation

Techniques used during surgery to physically alter parts of the body for the purpose of treating disease, repairing injury, or correcting deformities.

Tardive Dyskinesia

Inability to stop the tongue or other body parts from moving; motor side effect of neuroleptic drugs.