Question #1 Accruing net losses on non-cancelable purchase commitments for inventory is an example of the accounting concept of a. Conservatism b. Realization c. Consistency d. Materiality Question #2 The information provided by financial reporting pertains to: a. ndividual companies, rather than to industries or the economy as a whole or to consumers b. Individual companies and industries, rather than to the economy as a whole or to consumers. c. Individual companies and the economy as a whole, rather than to industries or to consumers d. Individual companies, industries, and the economy as a whole, rather than to consumers. Question #3-According to Statement of Financial Accounting Concepts No. 2, an interim earnings report is expected to have which of the following? Predictive Feedback value value No No b. Yes Yes Yes No No Yes