A Company Decides to Ignore a Very Small Error in Their

question 111

Multiple Choice

A company decides to ignore a very small error in their inventory balance. This is an example of application of the:

• A)accounting conservatism.
• B)materiality concept.
• C)disclosure principle.
• D)consistency principle.

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Definitions:

Professional Guidelines

Standards or codes of conduct established by professional organizations to guide the ethics, practices, and behavior of its members.

Office E-Mail

An office e-mail refers to electronic mail used within a professional or organizational context for communication among colleagues, with clients, or between businesses.

Information Overload

A state of feeling overwhelmed by the amount of information one receives or has to process.

Respiratory Diseases

Respiratory diseases are medical conditions that affect the lungs and other parts of the respiratory system, impairing a person's ability to breathe effectively.