Problem
1. If uniformit, means eliminating alternative accounting treatments, then surely comparability of financial statements of different enterprises would be improved. Do you agree with this statement? Comment.
2. Is the choice of LIFO a relevant circumstance compared to FIFO?
3. Do you agree that it is not necessary to provide information for undiversified investors? Discuss. How does this definition of circumstances relate to the definition of relevant circumstances presented in the chapter?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.