A Company Decides to Ignore a Very Small Error in Their

question 48

Multiple Choice

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

• A) Accounting conservatism
• B) Materiality concept
• C) Disclosure principle
• D) Consistency principle

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Definitions:

Deprivation

To be deprived; without; having to do without or unable to use.

Without

Indicates the absence of something or someone.

Unable

Lacking the skill, means, or opportunity to do something.

Guidelines for Good Health

Recommendations or principles directed toward maintaining or improving well-being through lifestyle choices and healthcare practices.