The accounting concept Consistent Reporting is being applied when a word processing service business reports revenue per page one year and revenue per hour the next year.

Question

Quizplus · Accepted Answer

Consistent Reporting requires that a business uses the same accounting methods and principles from one period to the next, ensuring comparability of financial statements over time. Changing the basis of revenue reporting from per page to per hour violates this principle.

The Accounting Concept Consistent Reporting Is Being Applied When a Word