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The consistency concept: Is also called the full disclosure concept. Is also called the matching concept. Requires a company to use a single method of
The consistency concept:
Is also called the full disclosure concept.
Is also called the matching concept.
Requires a company to use a single method of inventory valuation for all categories of inventory.
Requires that all companies in the same industry use the same method of inventory valuation.
Prescribes that a company use the same accounting method period after period except when a change of method will improve financial reporting.
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