A Company Follows the Qualitative Characteristic of Consistency

question 44

Multiple Choice

A company follows the qualitative characteristic of consistency. This means that

• A)For expenses, the company uses the same account names as used by its competitors.
• B)The company has elected certain accounting principles that can never be changed.
• C)The company applies the same accounting principles each period.
• D)The company applies the same accounting principles as its competitors.

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Definitions:

Empathy

The ability to understand and share the feelings of another individual, allowing for greater connection and communication by seeing things from their perspective.

Integrity

The quality of being honest and having strong moral principles; moral uprightness.

Civility

The behavior of showing politeness and respect towards others in a society.

Company Code

A unique identification code assigned to a business entity for purposes of regulation, identification, and administrative processing.