The full disclosure principle

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Reference no: EM131256971

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. Is only applied to retailers and manufacturers.

d-Is also called the consistency principle.

Reference no: EM131256971

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