A common application of the cost constraint is I. recording assets at cost.
II) not disclosing information that is immaterial and unnecessary in the notes.
III) use of the FIFO cost flow assumption for inventory valuation.
A) I
B) II
C) III
D) I and II

Question

Quizplus · Accepted Answer

The cost constraint involves not disclosing immaterial information, as it may not justify the cost of providing it.

A Common Application of the Cost Constraint Is I