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* * Objective Question: * * In accounting, why is consistency in policies and practices important, and how does it impact the comparability of financial
Objective Question:
In accounting, why is consistency in policies and practices important, and how does it impact the comparability of financial information over time?
Choices:
A Consistency ensures that financial statements are prepared using the same methods and principles from period to period.
B Consistency allows for flexibility in changing accounting standards to adapt to market trends.
C Consistency minimizes the need for audits and regulatory oversight of financial reporting.
D Consistency increases the complexity of financial analysis and interpretation.
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