It is sometIies necessary or appropriate for a company to make a change in accounting principle such as a change from L

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answerhappygod
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It is sometIies necessary or appropriate for a company to make a change in accounting principle such as a change from L

Post by answerhappygod »

It is sometIies necessary or appropriate for a company to make a
change in accounting principle such as a change from LIFO to
FIFO. When this happens, however, which of the following is MOST
LIKELY to be sacrificed? (Any of these characteristics could be
sacrificed but which is definitely, immediately impacted?)
a. Representational faithfulness
b. Full disclosure
c. Consistency
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