write short note on consistency concept
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The idea in acconting that once an accounting method is adopted it should be followed consistently from one accounting period to next. Also known as consistency concept..
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The idea in acconting that once an accounting method is adopted it should be followed consistently from one accounting period to next. Also known as consistency concept..
Hope this helps.. Plzz mark my ans as brainiliest..
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Consistency Concept aims us to follow the Accounting Policies Or Accounting Estimates to be followed regularly without changes,so that it makes the Financial Statements provide the correct Operational Profit and Makes the Financial Statements of different financial years comparable.
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