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

Name: The convention of consistency pertains to the use of the same accounting principles by firms in the same industry.
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Quizplus · Accepted Answer

The convention of consistency refers to a company's commitment to use the same accounting principles from one accounting period to the next, allowing for comparability over time, rather than the use of the same principles across different firms in the same industry.

The Convention of Consistency Pertains to the Use of the Same