Question

Consistency is a concept or convention ?​

Answer 1

In accounting, the convention in consistency is a principle that the same management accounting principles should be used for preparing financial statements over a number of time periods. This enables the management to draw important conclusions regarding the working of the concern over a longer period.

Answer 2

Answer:

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Explanation:

The convention of consistency means that same accounting principles should be used for preparing financial statements for different periods. It enables the management to draw important conclusions regarding the working of the concern over a longer period.