Consistency requires
A)that the company use the same accounting procedures from period to period.
B)that the company use the same accounting procedures as other companies in the same industry.
C)that the company explain,in a note to the financial statements,the significant accounting policies used.
D)All of these choices.

Question

Quizplus · Accepted Answer

Consistency in accounting refers to a company maintaining the same accounting methods over time to allow for comparability of financial statements across different periods. It does not necessarily mean using the same methods as other companies or explaining policies in notes, although transparency is also important.

Consistency Requires