Question: Help Save & Exit The IRS rule that requires that when LIFO is used for tax reporting, it must also be used for financial reporting
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The IRS rule that requires that when LIFO is used for tax reporting, it must also be used for financial reporting is known as:
Multiple Choice
Consistency concept.
FIFO inventory valuation method.
Full disclosure principle.
LIFO conformity rule.
Matching principle.
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