For each financial concept listed in below, identify in which category (listed in a through f) it should be matched.You may use each letter more than once or not at all.
-Comparability
A) Similar events are measured using identical accounting methods from one period to the next.
B) Expense is recognized in the same period that its generated revenue is recognized.
C) Different firms use identical accounting methods to measure similar events.
D) Present value of future cash flows.
E) Significant portion of effort made; major portion of cost incurred, objectively measured, and reasonably assured of ultimate cash receipt.
F) Reliable measure that is verified by documented evidence.

Question

Quizplus · Accepted Answer

Comparability refers to the ability to compare financial statements of different companies because they use the same accounting principles and methods.

For Each Financial Concept Listed in Below, Identify in Which