Solution-Which a company cannot frequently change the cost

Which a company cannot frequently change the cost flow

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Problem 1: Under generally accepted accounting principles, a company can choose among different cost flow assumptions for valuing cost of goods sold that can result in different income reporting. However, a company cannot frequently change the cost flow assumption adopted in order to measure the highest income possible because of the:

Option 1: conservatism principle.

Option 2: going concern principle.

Option 3: stable-dollar principle.

Option 4: consistency principle.

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Which a company cannot frequently change the cost flow

Reference no: EM132643961

Reference no: EM132643961

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