A Company Using the Same Accounting Principles from Year to Year

question 262

Multiple Choice

A company using the same accounting principles from year to year is an application of

• A) timelines.
• B) consistency.
• C) full disclosure.
• D) materiality.

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Definitions:

Collusive Agreements

Secret or illegal cooperation or conspiracy, especially between businesses, in order to deceive or gain an unfair advantage.

Barrier To Entry

Economic, procedural, regulatory, or technological factors that obstruct or restrict the ability of new competitors to enter and operate within a market or industry.

Market Entry

The process or strategy by which a company enters a new market or industry.

Average Cost

The total cost of production divided by the number of units produced, often used to determine the efficiency of production.