A Company Decides to Ignore a Very Small Error in Its

question 28

Multiple Choice

A company decides to ignore a very small error in its inventory balance.This is an example of which of the following principles?

• A)Relevance principle
• B)Comparability principle
• C)Materiality concept
• D)Accounting conservatism

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Definitions:

Secure Attachment

A stable and positive emotional bond between an infant and their caregiver, characterized by comfort and confidence in accessibility and responsiveness.

Imprinting

A form of learning occurring at a particular life stage that is rapid and apparently independent of the consequences of behavior, leading to a long-lasting behavioral response to a specific individual or object.

Parental Nurture

The care, love, and support that parents provide to their offspring, significantly impacting their emotional and physical development.

Insecure Attachment

A pattern of attachment in which individuals are unable to form stable and trusting relationships with others, often due to early negative experiences with caregivers.