The _____________ Says That a Company Who Chooses to Use

question 21

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

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Definitions:

Picture Tools Tab

A tab in some software applications that provides options and settings to edit and format images within a document.

Restore Button

A graphical user interface feature that allows users to return a window to its previous size and position.

Title Bar

The section at the top of a window displaying the name of the program and, often, the document name or other information.

Default Font

The pre-set style and size of text adopted by a software application or document unless changed by the user.