The inflation accounting can be described as positive theory of accounting Select one: O a. True O b. False is an example of nonmonetary items Select one: O a. A/P O b. Cash O c. Equipment O d. A/R If the LIFO inventory method was used last period, it should be used for the current and following periods because of Select one: O a. consistency. O b. materiality. O c. verifiability O d. timeliness. Each asset such as inventory, plant, equipment, and so on-would be valued based on the selling price that would be realized if the firm chose to dispose of it is the definition of which of the following current value concepts? Select one: O a. Entry price O b. Replacement cost O c. Exit value O d. Discounted present value The paper of Ball and Brown in 1968 examined the information content of assets in explaining liabilities Select one: O a. True O b. False