Using the Lower-Of-Cost-And-Net-Realizable-Value Rule of Valuing Inventory Allows the Accountant

question 117

Multiple Choice

Using the lower-of-cost-and-net-realizable-value rule of valuing inventory allows the accountant to attain:

• A)consistency.
• B)conservatism.
• C)matching.
• D)full disclosure.

---

Definitions:

Fiedler's Contingency Theory

A leadership theory proposing that effective leadership is dependent on the match between a leader's style and the demands of the situation.

Relationship-oriented Leaders

Leaders who prioritize the welfare, values, and needs of their team members over task-oriented goals.

Interpersonal Associations

Relationships or interactions between two or more people, which can be based on factors like friendship, work, social activities, or other forms of social connection.

Path-goal Theory

A leadership theory that states a leader's behavior is contingent to the satisfaction, motivation, and performance of their subordinates.