The Convention of Consistency Refers to Consistent Use of Accounting

question 107

Multiple Choice

The convention of consistency refers to consistent use of accounting principles

• A)among firms.
• B)from period to period.
• C)throughout the current accounting period.
• D)within industries.

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Definitions:

Confidence Interval

A span of numbers, obtained from sample observations, which is expected to include the value of an unobserved population attribute at a certain confidence level.

Standard Error

A statistic that measures the dispersion of sample means around the population mean, often used to estimate the precision of sample statistics.

Regression Line

A straight line that best fits the data in a linear regression analysis, representing the relationship between the independent and dependent variables.

Slope

The measure of the steepness or incline of a line, indicating the rate at which the y-value changes relative to the x-value.