Intermediate Accounting (16th Edition)

Published by Wiley
ISBN 10: 1118743202
ISBN 13: 978-1-11874-320-1

Chapter 2 - Conceptual Framework for Financial Reporting - Review and Practice - Using Your Judgment - Financial Statement Analysis Case - Page 72: c

Answer

c.Comparability was not adversely affected because all retailers utilized the uniform prevailing policy. Consequently, the recognition of revenues by various retailers would be compared.

Work Step by Step

c.Comparability was not adversely affected because all retailers utilized the uniform prevailing policy. Consequently, the recognition of revenues by various retailers would be compared.
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