Which of the following statements is not true?

a.

Accounting policies that result in the slowest reporting of income are the most conservative.

b.

Conservative accounting policies always result in the lowest reported income for any given period of time.

c.

Under inflationary conditions, the least conservative inventory method is fifo.

d.

When a firm has conservative accounting policies, it is said that its earnings are of high quality.

e.

A review of financial statements, including the notes, will indicate how conservative the statements are in regard to accounting policies