Question

    Accounting rules, practices and conventions should

    remain same from one year to another as per the _______
    A Convention of consistency Correct Answer Incorrect Answer
    B Convention of full disclosure Correct Answer Incorrect Answer
    C Convention of conservatism Correct Answer Incorrect Answer
    D All of the above. Correct Answer Incorrect Answer

    Solution

    The convention of consistency is an accounting principle that requires businesses to use the same accounting methods and procedures from year to year. This helps ensure that financial statements are comparable over time and that users can make meaningful comparisons between different periods.

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