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:

Power

The capacity to influence the actions of others.

Centralization

Centralization indicates the degree to which decision-making authority is concentrated at higher levels within an organization, with fewer people holding the power to make decisions.

Complementary Skills

Complementary skills are diverse abilities that individuals in a team bring together, enhancing the group's overall performance through a synergistic combination of talents.

Teams

Groups of individuals working together towards a common goal, characterized by collective responsibility, shared objectives, and collaboration.