A-LevelAccountingFinancial reporting and ethical considerations9706/12 · May/June 2013 · Q51 Mark
What does the application of the accounting principle of consistency ensure?
Athat all losses are provided for
Bthat assets are recorded at their actual cost
Cthat financial statements are produced annually
Dthat profits are calculated the same way each year
✓ Correct answer
D: that profits are calculated the same way each year
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