Thursday, December 15, 2011

Financial information exhibits the characteristic of consistency when?

A) accounting procedure that smooths net income and make results consistent between years are adopted.


B) extraordinary gains and losses are shown separately on the income statement.


C) accounting entities give similar events the same accounting treatment each period.


D) expenditures are reported as expenses and netted against revenue in the the period in which they're paid.|||C) accounting entities give similar events the same accounting treatment each period.





That's the definition of consistency.

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