Which of the Following Principles Are Reflected in the Lower-Of-Cost-Or-Market

question 152

Multiple Choice

Which of the following principles are reflected in the lower-of-cost-or-market rule?

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

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Definitions:

Effective Leadership

Leadership that is the result of getting the facts, creating a vision, motivating people, and empowering others. Effective leadership requires being oneself, hiring good people, treating others fairly, focusing on key objectives, listening well, calling the play, encouraging others, as well as being enthusiastic, setting the example, showing support, and keeping promises.

Retention of Good People

Strategies and practices aimed at keeping competent and valuable employees in an organization.

Peak-Performance Process

A methodology or approach aimed at enabling individuals or teams to perform at their highest potential.

Employee Retention

The ability of an organization to keep its employees and reduce turnover by creating a positive working environment.