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प्रश्न
This principle states that accounting procedures and methods should remain consistent from one year to another.
पर्याय
Materiality
Consistency
Conservatism
Timeliness
उत्तर
Consistency
Explanation:
The consistency principle states that accounting procedures and methods should remain consistent from one accounting period to another. This ensures that the financial statements are comparable over time, allowing stakeholders to analyze trends and make informed decisions based on consistent information.
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संबंधित प्रश्न
According to this principle, record all anticipated losses but ignore all anticipated gains. Industry practice.
This principle states that the financial statements should be prepared quickly at the end of the accounting period.
This principle is an exception to the principle of full disclosure.
Closing stock is always valued at market price. Justify for or against by citing two reasons.
Explain the principle of materiality.
Explain the principle of Timeliness.
Name and explain the accounting convention which says record all anticipated losses but ignore all anticipated gains.
Explain the Principle of Prudence.
Explain the principle of industry practice.
Explain the accounting conventions.
