Consistency in Accounting Means That a Company Uses the Same

question 108

True/False

Consistency in accounting means that a company uses the same generally accepted accounting principles from one accounting period to the next accounting period.

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Definitions:

Customs

Traditional practices, behaviors, or rituals that are specific to a particular culture, society, or community.

Values

Core beliefs or standards that guide behavior and decision-making for individuals or groups.

Ethnic Enclave

A geographic area with a high concentration of people from the same ethnic group, creating a community with cultural distinctiveness.

Ethnic Group

A community of people who share a common cultural background, ancestry, language, or social experience.