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:

Graph

A graphical representation of data, functions, or equations, typically plotted on a coordinate system.

Slope

A measure of the steepness or incline of a line, often represented as the ratio of the change in y over the change in x between two points on the line.

Line

A straight one-dimensional figure having no thickness and extending infinitely in both directions.

Slope-Intercept Form

A linear equation format, y = mx + b, where m is the slope and b is the y-intercept of the line, representing its steepness and position on the y-axis, respectively.