The major objective of the consistency principle is to
A) provide timely financial information for statement users.
B) promote comparability between financial statements of different accounting periods.
C) match the appropriate revenues and expenses in a given accounting period.
D) be sure the same information is disclosed in each accounting period.

Question

Quizplus · Accepted Answer

The consistency principle aims to ensure that financial statements are comparable across different accounting periods by applying the same accounting methods and principles consistently, which helps users to analyze and compare financial performance over time.

The Major Objective of the Consistency Principle Is to