Each of the following statements is justified by a concept or convention of accounting.Write the name of the concept or convention that applies to each statement.
a.This convention best enhances comparability of financial statements between years.
b.A merger agreed on just after the balance sheet date nevertheless is reported in the notes to the financial statements.
c.A company forgoes hiring another full-time accountant,which would add only slightly to the financial statements' accuracy.
d.A company uses lower-of-cost-or-market to value inventory.
e.A large company rounds its financial statement figures to the nearest $10,000.

Question

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The Answer of Each of the following statements is justified by a concept or convention of accounting.Write the name of the concept or convention that applies to each statement.
a.This convention best enhances comparability of financial statements between years.
b.A merger agreed on just after the balance sheet date nevertheless is reported in the notes to the financial statements.
c.A company forgoes hiring another full-time accountant,which would add only slightly to the financial statements' accuracy.
d.A company uses lower-of-cost-or-market to value inventory.
e.A large company rounds its financial statement figures to the nearest $10,000.

Each of the Following Statements Is Justified by a Concept