Which of the Following Prescribes the Use of the Less

question 11

Multiple Choice

Which of the following prescribes the use of the less optimistic amount when more than one estimate of an amount to be received or paid exists and the estimates are about equally likely?

• A)Full disclosure principle.
• B)Consistency concept.
• C)FIFO inventory valuation method.
• D)Conservatism constraint.
• E)Matching principle.

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Definitions:

Identified

Recognized or discovered as being a particular person or thing.

Species

A category of living organisms consisting of similar individuals capable of exchanging genes or interbreeding.

Biologists

Scientists who study living organisms and their relationship to the environment, encompassing various specialties within biological sciences.

Insects

A class of arthropods with a chitinous exoskeleton, a three-part body, three pairs of jointed legs, compound eyes, and two antennae.