Connor Corporation hired a new accountant.Over the next four years the accountant used four different accounting methods to calculate depreciation for Connor's equipment.Which of the following qualities of useful information has Connor most likely violated?

Question

Quizplus · Accepted Answer

Connor Corporation violated consistency, as they changed their accounting method for calculating depreciation over the four-year period. Consistency requires a company to use the same accounting methods year to year, allowing for comparability and faithful representation of financial statements.

Connor Corporation Hired a New Accountant