Which fundamental characteristic of GAAP requires that financial statements are prepared in a similar way year after year?

a) Relevance

b) Understandability

c) Comparability

d) Reliability

e) None of the choices listed

One of the roles of a professional accountant would be:

a) to use information prepared by the bookkeeper to provide appropriate accounting adjustments in accordance with GAAP

b) to prepare income statements only on a month to month basis

c) to do the bank reconciliations only

d) to only prepare payroll each month for the bookkeeper

e) None of the choices listed