A Company Using the Same Accounting Principles from Year to Year

question 20

Multiple Choice

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

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

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Definitions:

Decision Making

The process of making choices by identifying a decision, gathering information, and assessing alternative resolutions.

Line Structure

The simplest organizational structure, in which direct lines of authority extend from the top manager to the lowest level of the organization.