Question
Financial information exhibits the characteristic of consistency when: Question 3 options: A) A high degree of consensus can be secured among independent
Financial information exhibits the characteristic of consistency when:\ Question 3 options:\ \ A) \ \ A high degree of consensus can be secured among independent measures using the same measurement methods.\ \ B) \ \ Expenses are reported as charges against revenue in the period in which they are paid.\ \ C) \ \ The LIFO inventory method was used last period, and is also used for the current and following periods.\ \ D) \ \ Accounting procedures are adopted which give a consistent rate of net income.\ \ E) \ \ Numbers and descriptions match what really existed or happened.
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