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

Name: The quality of consistency pertains to the use of the same accounting principles by firms in the same industry.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The quality of consistency refers to a company applying the same accounting principles and methods from period to period within its own financial reporting, not necessarily across different firms in the same industry.

The Quality of Consistency Pertains to the Use of the Same