The Consistency Principle States That a Business Should Use the Same

question 77

True/False

The consistency principle states that a business should use the same accounting methods and procedures from period to period.

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Definitions:

Treaty System

A framework or set of principles that governs the making and enforcement of treaties between sovereign states, including agreements on trade, peace, and alliances.

Elk v. Wilkins

A landmark U.S. Supreme Court case in 1884 that held that Native Americans who voluntarily quit their tribes did not automatically gain U.S. citizenship.

Fourteenth and Fifteenth Amendments

Amendments to the United States Constitution, adopted during the Reconstruction era, designed to secure rights for former slaves. The Fourteenth Amendment grants citizenship and equal protection under the laws, while the Fifteenth Amendment prohibits denying the right to vote based on race.

John Wesley Powell

An American explorer, geologist, and ethnologist, known for his pioneering expeditions down the Green and Colorado Rivers and his advocacy for conservation and responsible development of the American West.