A-LevelAccountingFinancial reporting and ethical considerations9706/12 · May/June 2012 · Q61 Mark

Which accounting principle means that a company's financial statements are comparable from one period to the next?

Aaccruals

Bconsistency

Cgoing concern

Dmateriality

✓ Correct answer

B: consistency

Practise more questions on this topic

Oracle Prep sorts past-paper questions by topic, so you can drill Financial reporting and ethical considerations and see which topics are most likely to come up next.

About this question

Topic: Financial reporting and ethical considerations, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, May/June 2012 Paper 1 Variant 2, question 6.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content

Related Accounting questions

Financial reporting and ethical considerationsMay/June 20161m

What might stop financial statements showing a true and fair view?

Financial reporting and ethical considerationsMay/June 20221m

On what basis does a trading business produce an income statement? 1 cash received and paid out by the business in th…

Financial reporting and ethical considerationsMay/June 20251m

Which accounting concepts are applied when depreciating non-current assets? 1 consistency 2 matching/accruals 3 objec…

Traditional costing methodsMay/June 20211m

The following information is available for a month. per unit $ selling price 100 contribution 30 Total fixed costs…

Traditional costing methodsMay/June 20211m

A business makes and sells a single product. It has a selling price of $100 and a contribution per unit of $40. Whe…

Traditional costing methodsMay/June 20211m

What is not an advantage to a business of preparing budgets?

← Browse all past-paper questions