Principle that prescribes use of the same accounting method(s) over time so that financial statements are comparable across periods.

Question

Principle that prescribes use of the same accounting method(s) over time so that financial statements are comparable across periods.
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Solution 1

The principle that prescribes the use of the same accounting methods over time so that financial statements are comparable across periods is known as the Consistency Principle.

Here are the steps to understand this principle:

  1. Identification: The Consistency Principle is one of the basic princi Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solv

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