Question

Consistency with reference to application of accounting procedures means: a) All companies in the same Industry should use identical accounting procedures b) Income & assets have not been overstated c) Accounting methods & procedures shall be followed uniform basis year after year d) Any accounting method can be followed as per convenience

Answer 1

consistency mean we should not change our accounting practice year after year so ans is (c)

Answer 2

Answer:

all companies in the same industries should use identical accounting procedures