The Idea of Consistency Does Not Mean That Companies Cannot

question 40

True/False

The idea of consistency does not mean that companies cannot switch from one accounting method to another.

---

Definitions:

Express Provision

An express provision is a clause or term in a contract or legal document that is explicitly stated, leaving no room for misunderstanding or interpretation.

Personal Nature

Characteristics or activities that belong to or are intended for a specific individual, often relating to private or intimate aspects of life.

Donee Beneficiary

In contract law, a person who benefits from a contract made between two other parties, where the intention is to gift the benefit or performance.

Promisee

A person to whom a promise is made or directed, particularly in a legal contract.