Multiple Choice
Which statement concerning inventory is not true?
A) Consistency is an important consideration when alternative accounting methods exist.
B) Once an inventory costing method is selected management should not deliberately switch to another to manipulate profits.
C) Accounting data produced in different accounting periods is not comparable if arbitrary changes in accounting methods are permitted.
D) Consistency rules out ever switching to an alternative accounting method.
Correct Answer:

Verified
Correct Answer:
Verified
Q34: At 31 December 2014, the end of
Q35: Net realisable value in relation to inventory
Q36: The lower of cost or net realisable
Q37: A major theoretical problem in accounting for
Q38: For which of these would the specific
Q40: Which item should not be included in
Q41: A way that products can be unequivocally
Q42: If Carmel knows that the ending inventory
Q43: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3115/.jpg" alt=" A) $110 000.
Q44: Assuming rising prices, which statement is correct?<br>A)