The convention of consistency refers to consistent use of accounting principles
A)among firms.
B)within a given accounting period.
C)within industries.
D)among accounting periods.

Question

Quizplus · Accepted Answer

The convention of consistency refers to the principle that a company should use the same accounting methods and principles from one accounting period to the next, allowing for comparability of financial statements over time.

The Convention of Consistency Refers to Consistent Use of Accounting