Question
10) The use of the lower of cost or net realizable value (LCNRV) method to value inventory for reporting purposes is a departure from the
10)
The use of the lower of cost or net realizable value (LCNRV) method to value inventory for reporting purposes is a departure from the accounting principle of:
3.3 Points
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going concern
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matching.
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historical cost.
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None of the above
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Intermediate Accounting
Authors: David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
8th edition
978-1259997525, 1259997529, 978-1259548185
