Which of the Following States That the Business Should Use

question 132

Multiple Choice

Which of the following states that the business should use the same accounting methods from period to period?

• A) materiality concept
• B) consistency principle
• C) conservatism
• D) disclosure principle

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Definitions:

Positive

Characterized by presence or possession; affirming an increase or addition in economics.

Explanation

A statement or account that makes something clear or understandable, often providing reasons for actions, decisions, or phenomena.

Normative Statement

A proposition that expresses a value judgment or opinion about what ought to be, rather than what is empirically verifiable.

Income Distribution

The way in which total income is shared among the population or different sectors of an economy.