The Statement That Is not True Concerning Inventory Is

question 8

Multiple Choice

The statement that is not true concerning inventory is:

• A)Consistency is an important consideration when alternative accounting methods exist
• B)Once an inventory costing method is selected management should not deliberately switch to another to manipulate profits
• C)Accounting data produced in different accounting periods is not comparable if arbitrary changes in accounting methods are permitted
• D)Consistency rules out ever switching to an alternative accounting method

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Definitions:

Shrimp Trawlers

Fishing vessels designed for trawling the ocean floor to catch shrimp, often criticized for causing ecological damage.

Sea Turtles

Marine reptiles characterized by a bony or leathery shell and paddled limbs, belonging to the order Testudines.

Species Loss

The disappearance of species from Earth, often due to human activities like habitat destruction, pollution, and overexploitation, leading to reduced biodiversity.

Marine Ecosystems

Complex systems of marine life and their environments, ranging from coral reefs and mangroves to the deep sea, vital for the planet's diversity and climate.