Question

what is comparability

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Answer 1

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Comparability is a property through which financial statements are prepared under uniform principles from one company to another.

Answer 2

it is not sufficient that the financial information is relevant amd reliable at a particular time,in a particular circumstances or for a particular reporting entity.but it is equally important that the users of the general purpose financial reports are able to compare various aspects of an entity over different time period and with other entities.



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