For Each of the Following,identify Whether the Situation Affects the Reliability,relevance,consistency,or
For each of the following,identify whether the situation affects the reliability,relevance,consistency,or comparability of financial data.Give only one answer for each case.
RB-Reliability
RV-Relevance
CN-Consistency
CP-Comparability
_____ Data can be directly contrasted with another company's data.
_____ Final numbers can be verified by outside auditors.
_____ Data are up to date.
_____ The company uses the same chart of accounts in each time period.
_____ Credits equal debits throughout the journal entries and on the trial balance.
_____ The company uses the same accounting procedures and processes as its competitors.
_____ Company results can be compared to the results from prior time periods.
_____ Data are appropriate to the decision being made.
_____ Data are error free.
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