The Convention of Consistency Refers to Consistent Use of Accounting

question 163

Multiple Choice

The convention of consistency refers to consistent use of accounting principles

• A) among firms.
• B) throughout the accounting period.
• C) within industries.
• D) among accounting periods.

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Definitions:

Responsibility

The obligation to carry out duties or tasks effectively and being accountable for the outcomes.

Intercultural Communication Skills

The ability to communicate effectively and appropriately with people of other cultures, understanding cultural differences in verbal and non-verbal communication.

Cultural Biases

Refers to the prejudices or predispositions toward certain cultures or cultural practices, often stemming from one's own cultural background.

Withholding Judgment

The deliberate action of not forming an opinion or conclusion prematurely.