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Basic Question 21 of 26
Which principle of accounting requires the use of a single inventory method and also assumes that a change to another inventory method should be made only after careful analysis and evaluation?
B. Realization
C. Full-disclosure
A. Consistency
B. Realization
C. Full-disclosure
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I just wanted to share the good news that I passed CFA Level I!!! Thank you for your help - I think the online question bank helped cut the clutter and made a positive difference.
Edward Liu
Learning Outcome Statements
describe the measurement of inventory at the lower of cost and net realisable value and its implications for financial statements and ratios
CFA® 2024 Level I Curriculum, Volume 2, Module 6.