Playground Equipment is going to issue additional common stock next year. In order to improve its income,

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Playground Equipment is going to issue additional common stock next year. In order to improve its income, the company has switched from the LIFO inventory cost flow method to FIFO. The company has not disclosed the accounting change. Comparative financial statements were prepared. Which accounting assumptions and/or principles have been violated? a. Consistency, reporting entity b. Consistency, disclosure c. Materiality, historical cost d. Conservatism, revenue recognition

Posted Date: May 18, 2024 11:13 PM

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Playground Equipment is going to issue additional common stock next year. In order to improve its income,

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