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The consistency concept can be defined the best as once a company selects an accounting concept it must consistently apply it from one period to

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The consistency concept can be defined the best as once a company selects an accounting concept it must consistently apply it from one period to the next, to ensure comparability of financial information. Income and expenses should be recognised in a consistent manner a Accounting records should include only those transactions which can be expressed in terms of money O Accounts should be consistently prepared to give information about the business and not about those who own it

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