All of the following accounting practices are examples of conservatism,except:
A)completed contract method.
B)lower-of-cost-and-net-realisable-value inventory method.
C)accelerated depreciation.
D)FIFO method when prices are increasing.

Question

Quizplus · Accepted Answer

The FIFO method, when prices are increasing, results in higher reported profits and inventory values, which is not conservative.

All of the Following Accounting Practices Are Examples of Conservatism,except