Posted: April 25th, 2017

The conceptual framework for financial reporting includes several assumptions that underlie generally accepted accounting principles. Which of the following is one of these assumptions?

The conceptual framework for following-items-not-used-calculation-cost-retail-ratio-fifo-retail-inventory-method-used-determine-ending-inventory/”>financial reporting includes several
assumptions that underlie generally accepted accounting principles. Which of
the following is one of these assumptions?

Relevance
Comparability
Matching
Instructor Explanation:Wells, Chapter 11, page 273

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