The quality of consistency pertains to the use of the same accounting principles by firms in the same industry.

Name: The quality of consistency pertains to the use of the same accounting principles by firms in the same industry.
Brand: Quizplus
Rating: 5.0 (34 reviews)

Question

Quizplus · Accepted Answer

The quality of consistency refers to a company using the same accounting principles and methods from period to period within its own financial reporting, not necessarily to the comparison between different firms.

The Quality of Consistency Pertains to the Use of the Same