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In addressing nursing students in the lounge area,the unit manager was discussing team leadership and team effectiveness.She stated,"One can agree to disagree with another team member's perspective even when one doesn't necessarily see that perspective as being the correct one." In being creative,which of the following basic rules was she talking about?
Inventory Cost Formula
Methods used to calculate the cost of inventory sold or on hand, such as FIFO (First In, First Out), LIFO (Last In, First Out), or weighted average.
Consistent Application
The principle that companies should apply accounting policies uniformly throughout reporting periods to ensure comparability of financial statements over time.
Comparability
A financial accounting concept that ensures financial statements can be compared between periods and with other companies.
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