1. Discourages undue optimism in measuring and reporting net assets and net income. Select one: a. Consistency b. Due process c. Conservatism d. Dollar value

2. Requires a company to use the same accounting procedure and practices through time.

Select one:

a. Consistency

b. Periodicity

c. Materiality

d. Fiscal

3. Disclosure is an assumption that the life of an entity can be subdivided into time periods for reporting purposes.

Select one:

True

False