What is meant by consistency when discussing financial accounting information?
A) Information that is measured and reported in a similar fashion across points in time.
B) Information is timely.
C) Information is measured similarly across the industry.
D) Information is verifiable.

Question

Quizplus · Accepted Answer

Consistency in financial accounting information refers to the use of the same accounting principles and methods across different periods of time, resulting in comparable financial statements.

What Is Meant by Consistency When Discussing Financial Accounting Information