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:

Taxes

Mandatory financial charges or levies imposed by a government on its citizens and businesses to fund public expenditures.

Canadian Dollars

The Canadian dollar is the currency of Canada, often represented by the symbol CAD or simply $.

Lower Terms

Expressing a fraction in its simplest form so that the numerator and denominator are as small as possible.

Ratio

A comparison, by division, of the relative size of two or more quantities.