Changes in accounting estimates are not allowed under the consistency principle.

Name: Changes in accounting estimates are not allowed under the consistency principle.
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Quizplus · Accepted Answer

Changes in accounting estimates are allowed under the consistency principle as long as they are disclosed and properly documented. The consistency principle requires companies to use the same accounting methods and principles from one accounting period to the next, but it allows for changes due to new information or circumstances.

Changes in Accounting Estimates Are Not Allowed Under the Consistency