The Lower-Of-Cost-Or-Market Basis Is an Example of the Accounting Concept

question 166

True/False

The lower-of-cost-or-market basis is an example of the accounting concept of conservatism.

---

Definitions:

Aden/o

A prefix used in medical terminology referring to glands, particularly relating to glandular structures.

Combining Form

A word root to which a vowel is added for easier pronunciation before it is combined with another term, often used in medical terminology.

Gland

An organ in the body that secretes chemical substances for use in the body or for discharge into the surroundings.

Femor/o

A prefix in medical terminology related to the femur or thigh bone.