The Consistency Concept

question 126

Multiple Choice

The consistency concept:

• A)Requires a company to consistently use the same accounting method of inventory valuation unless a change will improve financial reporting.
• B)Requires a company to use one method of inventory valuation exclusively.
• C)Requires that all companies in the same industry use the same accounting methods of inventory valuation.
• D)Is also called the full disclosure concept.
• E)Is also called the matching concept

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