Consider the Following Three Substances

question 47

Short Answer

Consider the following three substances.
Enter the letter of the appropriate substance in the blank provided.If none applies,enter the word none.
-Substance____can function as a hydrogen bond acceptor but not a hydrogen bond donor.

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Definitions:

Conservatism

An accounting principle that requires potentially uncertain expenses and liabilities to be recognized promptly, but revenues only when they are assured.

Accounting Principle

Fundamental guidelines or rules that govern financial accounting practices.

Cost Or Market

An accounting method used to value inventory or securities at the lower of either its original cost or its market value as of the reporting date.

LIFO Reserve

The difference between the cost of inventory calculated under the Last In, First Out method and the FIFO (First In, First Out) method.