Which of the Following States That the Business Should Use

question 47

Multiple Choice

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

• A)Accounting conservatism
• B)Materiality concept
• C)Comparability principle
• D)Relevance principle

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Definitions:

Accommodation

Living or travel arrangements made for people while away from home, or adjustment made to make something suitable.

Bureau of Labor Statistics

A unit of the United States Department of Labor, which is responsible for collecting, processing, and disseminating statistical data on labor economics.

Unemployment

The situation in which individuals who are capable of working and are actively seeking employment are unable to find a job.

Contractionary Monetary Policy

A monetary policy strategy used by central banks to reduce inflation and cool an overheated economy by increasing interest rates and reducing the supply of money.