Crouse Company applies the consistency convention.What does this mean?
A)Crouse Co.uses the same names for all its expenses as its competitors.
B)Crouse Co.has selected certain accounting principles that can never be changed.
C)Crouse Co.applies the same accounting principles each accounting period.
D)Crouse Co.applies the same accounting principles as it competitors.

Question

Quizplus · Accepted Answer

Applying the consistency convention means that a company uses the same accounting principles from one accounting period to another. This helps ensure comparability and consistency over time, which can be important for making informed business decisions.

Crouse Company Applies the Consistency Convention