Madden Company Applies the Consistency Convention

question 155

Multiple Choice

Madden Company applies the consistency convention.What does this mean?

• A)Madden Co.uses the same names for all its expenses as its competitors.
• B)Madden Co.has selected certain accounting principles that can never be changed.
• C)Madden Co.applies the same accounting principles each accounting period.
• D)Madden Co.applies the same accounting principles as it competitors.