Which of the following is an application of conservatism?

A) reporting inventory at the lower of cost or market
B) reporting only material amounts in the financial statements
C) reporting all relevant information in the financial statements
D) using the same depreciation method from period to period

A

Business

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What percent of all U.S. businesses are proprietorships?

A) 24 B) 44 C) 74 D) 94

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Anomalies do not generally arise out of transitive dependencies

Indicate whether the statement is true or false

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