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The full disclosure principle: a.Prescribes that the notes to the financial statements report the change from one inventory valuation method to another. b.Requires that companies
The full disclosure principle:
a.Prescribes that the notes to the financial statements report the change from one inventory valuation method to another.
b.Requires that companies use the same accounting method for inventory valuation period after period.
c.Is not subject to the consideration of materiality.
d.Is only applied to retailers and manufacturers.
e.Is also called the consistency principle.
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