The Consistency Principle

question 49

Multiple Choice

The consistency principle

• A) Requires a company to use the same accounting methods period after period
• B) Requires a company to use one cost flow assumption exclusively
• C) Allows a company to change its cost flow assumption period after period in order to maximize net income
• D) Is also called the matching principle
• E) Allows a company to change its cost flow assumption period after period in order to minimize income taxes

Identify the characteristics important in the classification of rocks.

Understand the concept of crystal structure and its importance in mineralogy.

Recognize the role of minerals in rock composition.

Learn the significance of texture and composition in rock classification.

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