The ________ Says That a Company Who Chooses to Use

question 30

Multiple Choice

The ________ says that a company who chooses to use the LIFO method for valuing their inventory must use that same method each year.

• A)materiality principle
• B)cost principle
• C)consistency principle
• D)business entity concept

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Definitions:

Telangiectasia

A condition characterized by the dilation of small blood vessels, causing visible red lines or patterns on the skin.

Angi

Prefix used in medical terminology to denote relation to blood vessels, such as in "angiography," an imaging technique to view blood vessels.

Sebaceous Glands

Glands in the skin that secrete an oily or waxy substance called sebum, which lubricates and waterproofs the skin and hair.

Gangrene

The death of body tissue due to either a lack of blood flow or a serious bacterial infection.