A Company Follows the Qualitative Characteristic of Consistency

question 44

Multiple Choice

A company follows the qualitative characteristic of consistency. This means that

• A)For expenses, the company uses the same account names as used by its competitors.
• B)The company has elected certain accounting principles that can never be changed.
• C)The company applies the same accounting principles each period.
• D)The company applies the same accounting principles as its competitors.

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Definitions:

Appeals Process

The procedure for seeking a higher court's review of a lower court's decision in hopes of reversing or modifying the judgment.

Civil Servants

Employees who work for government departments or agencies, typically not in a political position.

Whistleblower Protection Act

A law that protects federal employees who disclose evidence of waste, fraud, or abuse from retaliatory action by their employers.

Wrongdoing

Illegal or immoral actions or behavior, often subject to legal or ethical judgement.