Question

what is consistency concept​

Answer 1

Answer:

Consistency Concept

Explanation:

The consistency principle states that, once you adopt an accounting principleor method, continue to follow it consistently in future accounting periods. Only change an accounting principle or method if the new version in some way improves reported financial results.

Answer 2

Answer:

Consistency concept says that,accounting principles and methods should remain consistent from one year to another. So that, management can compare the profit and loss account of different years/periods and make important conclusions.

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