When a standard restricts the number of accounting methods to be used to account for a particular accounting issue,it is promoting the qualitative characteristic of ______________?
A) timeliness
B) prudence
C) understandability
D) comparability

Question

Quizplus · Accepted Answer

The qualitative characteristic being promoted here is comparability. By restricting the number of accounting methods, the standard is making sure that the accounting treatment for a particular issue is consistent across different entities, which enhances comparability.

When a Standard Restricts the Number of Accounting Methods to Be