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The consistency concept: A) Requires a company to consistently use the same accounting method of inventory valuation unless a change will improve financial reporting. b)
The consistency concept:
A) | Requires a company to consistently use the same accounting method of inventory valuation unless a change will improve financial reporting. |
b) | Requires a company to use one method of inventory valuation exclusively. |
C) | Requires that all companies in the same industry use the same accounting methods of inventory valuation. |
D) | Is also called the full disclosure concept. |
E) | Is also called the matching concept. |
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