If a Company Changes Its Inventory Valuation Method the Effect

question 92

True/False

If a company changes its inventory valuation method the effect of the change on net income should be disclosed in the financial statements.

---

Definitions:

Forcing

A conflict resolution strategy where one party asserts their viewpoint at the expense of another.

5P Checklist

A managerial tool used for ensuring that important aspects of a project or plan are considered, typically standing for Proper Planning Prevents Poor Performance.

Change Agents

Individuals or entities that act as catalysts for change, facilitating, implementing, and leading efforts to make organizational or societal changes.

Preparation

The act of making ready or being made ready for use or consideration; involves planning and organizing resources and activities beforehand.