A company using the same accounting principles from year to year is an application of

Question

Quizplus · Accepted Answer

Consistency is the principle that requires a company to use the same accounting principles and methods from year to year, unless it is necessary to change them due to a change in circumstances or to improve the information provided in the financial statements. This principle ensures comparability between financial statements of different periods and helps users to make informed decisions based on reliable information.

A Company Using the Same Accounting Principles from Year to Year