Which of the Following Statements About Consistency Is True

question 21

Multiple Choice

Which of the following statements about consistency is true?

• A) A company has to use the same accounting methods in all parts of a company.
• B) The same depreciation method should be employed for all assets of a company.
• C) The same accounting methods must be used as those used by other companies in the industry.
• D) The same accounting methods must be used from year to year,except where a change is made and the impact on profit is disclosed.

---

Definitions:

Hippocampus

A region of the brain associated with memory formation, organization, and storage.

Echoic Memory

Echoic Memory is a subcomponent of sensory memory that allows individuals to retain and recall auditory information for a brief period after the original sound has ended.

Long-term Memories

Memory storage that allows individuals to retain information for extended periods, sometimes for a lifetime.

Hippocampus

A critical brain structure located in the medial temporal lobe, involved in the formation and retrieval of memories.