1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
sertanlavr [38]
3 years ago
6

Changing the method of inventory valuation should be reported in the financial statements under what qualitative characteristic

of accounting information
Business
1 answer:
SashulF [63]3 years ago
4 0

Answer:

These are the answer choices for the question:

a. Consistency

b. Verifiability

c. Timeliness

d. Comparability

And this is the correct answer choice:

a. Consistency

Explanation:

Consistency is the qualitative characteristic of accounting information that allows an investor, a stockholder, or a government official, to look at accounting data and establish that the quantities presented are all obtained in a consisten manner depending on the type of account.

This means that if cash is resported in dollars, all cash and cash equivalents are reported in dollars, and that if inventory is reported under a specific system, if that system is changed at any point in the future, stakeholders are informed.

You might be interested in
Match each scenario with its effect on the PPC.
Igoryamba

Answer

Shifts PPC to the right-A new technology is invented to produce more food grains in the country.

point on original PPC- the country is using all its resources efficiently.

shifts PPC to the left- many of the country's young people died in an earthquake

unattainable point- the country plans to produce with the available resources

Explanation

PPC -This is the short form of Production possibility curve. This is an indicator which shows the maximum production of two or more goods and services which can be achieved in the economy of a nation when the resources are well distributed and fully utilized in a productive manner. The causes of increment in output where the curve may shift to left or right or attainable point and even to the original PPC is due to the distraction of capital equipment in the country.This depends on how the country is using its resources.

7 0
4 years ago
Read 2 more answers
While a Guaranteed No-lapse Rider relieves the policyowner of the responsibility of monitoring the policy's cash value what is r
True [87]

Pay the Premium in full and on time.

Explanation:

A No-lapse guarantee offers an insurance company commitment that a fixed life insurance policy is in place – even though, as long as the agreed retention premium is calculated at the required time, the cash value in the policies drops to zero or less than zero.

The No-Lapse insurance fee is the amount to be paid in order for the policy to remain in force unless the policy is carried out effectively for a certain number of years. The coverage will continue during the lapse period, even when the cash value drops to zero. The insurer provides the guarantee.

When the fee is not collected on the due date, it shall be deemed to have been default and the policyholder may forfeit his advantages. During that time, the fee can be charged without additional charges and the scheme remains in effect.

8 0
3 years ago
According to the Myers-Briggs Type Indicator, which of the following traits best describes a person who reaches decisions throug
DiKsa [7]
I want to say it is A, it sounds like with those traits the person would have to or would think more about making a decision. 
5 0
4 years ago
Read 2 more answers
Bottle bills, legislation that requires a deposit and then allows consumers to return bottles and cans to stores after use and r
lyudmila [28]
Hey there,
The answer to your question is -  <span>successful in reducing roadside waste and conserving materials.

Hope this helps :))

<em>~Top♥</em>
</span>
8 0
3 years ago
What will happen if a shoe firm sells its shoes at a price lower than the opportunity cost of the inputs used in the production
Maslowich
Had to look for the options and here is my answer. What happens when a shoe firm puts its shoes on sale at a price that is lower than the opportunity cost of the inputs used in the process of production is that the firm will possibly make losses between the accounting and economic aspects. 
5 0
4 years ago
Other questions:
  • The income approach calculates the _____.
    7·1 answer
  • Define the following terms in your own words?
    6·1 answer
  • Which of the following statements are true about duration?
    7·2 answers
  • The amount of interest you will earn in one year from a savings account is the _____.
    7·1 answer
  • Is a general decline in prices throughout an economy
    15·1 answer
  • Using the midpoint method, the price elasticity of demand for a good is computed to be approximately 0.75. Which of the followin
    13·1 answer
  • 5. What is the purpose of a Job Cost Sheet? What type of information is included in one?
    14·1 answer
  • A method of pricing where the price the seller quotes includes all transportations costs, and the seller is responsible for any
    12·1 answer
  • People who buy shares of a company are called entrepreneurs.<br> a.True<br> b.False
    12·1 answer
  • How a company classifies its inventory depends on whether the firm is a merchan- diser or a manufacturer. In a merchandising com
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!