A Company Can Change Its Inventory Costing Method Without Mentioning

question 163

True/False

A company can change its inventory costing method without mentioning this change in its financial statements since it is a decision made by internal management.

---

Definitions:

Observational Learning

Learning that occurs by observing the behavior of others and the outcomes of those behaviors.

Internalized Conscience

The internalized set of moral values, principles, and norms that guide an individual's ethical behavior and decision-making processes.

Socially Responsive

Exhibiting behaviors that are sensitive, adaptive, and appropriately responsive to social situations or interactions.

Prosocial Behavior

Actions intended to benefit others, including behaviors like helping, sharing, donating, co-operating, and volunteering.