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Commerce · Q2413

Accounting

Graduate and Post Graduate · Commerce · question 2413

Q2413

Consistency with reference to application of accounting principles refers to the fact that:

A.
Companies in the same industry use identical accounting procedures and methods, and are consistent
B.
Income and assets have not been over stated
C.
Accounting methods and procedures used have been consistently applied from year to year
Answer
D.
All methods and procedures have been utilised

Answer: Option C

Solution

Answer: Option C
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