Which One of the Following Is Most Likely Violated If

question 33

Multiple Choice

Which one of the following is most likely violated if a firm increases the dollar amount reported for unsold inventory on the balance sheet to a cost it anticipates it will have to pay for future inventory items?

• A)Consistency
• B)Conservatism
• C)Going concern
• D)Economic entity

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Definitions:

High Performance

Demonstrating an exceptionally high level of ability, productivity, or effectiveness in a particular task or over a period in a job role.

Long-Term Relationships

Connections or associations between parties, characterized by durability, ongoing interaction, and sustained mutual interest or benefit.

Learning Organization

An entity that supports the education of its community while constantly evolving to improve its adaptability and success.

Training Needs

The gap between current performance and desired performance that can be closed by specific training and development interventions.