Consistency in Accounting Means That a Company Uses the Same

question 108

True/False

Consistency in accounting means that a company uses the same generally accepted accounting principles from one accounting period to the next accounting period.

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Definitions:

Condense

The process of combining several mathematical expressions or elements into a simpler form.

Equation

A declaration in mathematics that claims two expressions, often comprising variables and constants, are equal.

Logarithm

The degree to which a base, typically 10 or e, must be raised to yield a certain number.

Properties

The characteristics, attributes or qualities that an object, substance, or mathematical entity possesses.