Accountancy, asked by kjamuna1978, 5 months ago

write a note on consitency assumption

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Answered by amansaleh655
2

Answer:

The consistency assumption implies that an individual's potential outcome under his or her observed exposure history is the outcome that will actually be observed for that person.

For example, Company A's Financial Statements report base on IFRS. Its accounting policies for depreciation is using a straight-line basis. ... But, the company subsequently wants to change its accounting policies from a straight line to a declining balance.

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