The Full Disclosure Principle

question 91

Multiple Choice

The full disclosure principle:

• A)Requires that when a change in inventory valuation method is made,the notes to the financial statements report the type of change,why it was made,and its effect on net income.
• B)Requires that companies use the same accounting method for inventory valuation period after period.
• C)Is not subject to the materiality principle.
• D)Is only applied to retailers.
• E)Is also called the consistency principle.

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Definitions:

Neuron's Ribosomes

The cellular structures within neurons responsible for protein synthesis, crucial for cell function and neurotransmitter release.

Terminal Buttons

The small knobs at the end of an axon that release chemicals (neurotransmitters) to transmit the neural signal to the next neuron.

Primary Inhibitory

Refers to the predominant or principal actions or mechanisms responsible for suppression or reduction of biological or chemical activity.

Neurotransmitter

Chemicals in the brain that transmit signals from one neuron to another across synapses.