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Financial Accounting Interview Question:
What is Convention of Consistency?
Submitted by: AdministratorThis accounting convention proposes that the same accounting principles, procedures and policies should be used consistently on a period to period basis for preparing financial statements to facilitate comparison of financial statements on period to period basis. If any changes are made in the accounting procedures or policies, then it should be disclosed explicitly while preparing the financial statements.
Submitted by: Administrator
Submitted by: Administrator
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