Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The principle of consistency states that: Select one: a. There must be a consistent blend to the accounting principles. b. Companies are prohibited from ever

The principle of consistency states that:

Select one:

a. There must be a consistent blend to the accounting principles.

b. Companies are prohibited from ever changing their accounting methods.

c. If changes in accounting principles are made, the reasons for the change and the effects on the company's profit must be disclosed.

d. Every company in the same industry must use the same accounting principle.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Video Basics

Authors: Herbert Zettl

6th Edition

0495569437, 9780495569435

More Books

Students also viewed these Accounting questions

Question

describe the distinct effects of positive emotions;

Answered: 1 week ago