The Principle of Consistency States That

question 85

Multiple Choice

The principle of consistency states that:

• A)changes in accounting methods should occur from one fiscal period to the next.
• B)a company cannot change from one inventory valuation method to another.
• C)a company should switch from LIFO to FIFO every other period.
• D)by using the same method,the financial statements are more meaningful.

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Definitions:

Physical Assaults

Acts of violence or force against another person that result in physical harm or are intended to cause physical harm.

Subconscious Mind

The segment of the mind that isn't presently at the forefront of consciousness yet affects thoughts, emotions, and behaviors.

Storehouse

A building or space for storing goods, products, or materials.

Control of Anger

Techniques or practices aimed at managing and mitigating feelings of anger.