The Full Disclosure Principle Says That If a Change Is

question 118

Multiple Choice

The full disclosure principle says that if a change is made to the inventory valuation method, the company should:

• A) disclose the change.
• B) show the effects of the change on profit and inventory valuation.
• C) show justification for the change in a footnote on the financial reports.
• D) All of these answers are correct.

---

Definitions:

9+2 Arrangement

A specific structure found in the microtubules of eukaryotic cilia and flagella, consisting of nine pairs of microtubules surrounding two central microtubules.

Cilia

Hair-like structures on the surface of cells that move in a wave-like manner to transport materials and fluids or aid in mobility.

Flagella

Long, slender projections from a cell membrane that are used for locomotion in certain cells and unicellular organisms.

Ribosomes

Cell organelles that function as the site of protein synthesis in the process of translation.