Question

The consistency principle states that a business should use the same accounting methods and procedures from...

The consistency principle states that a business should use the same accounting methods and procedures from period to period.

True

False

By accepting credit and debit​ cards, companies are able to attract more customers.

True

False

A receivable occurs when a business sells goods or services to another party on account.

True

False

Business   Accounting   
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Answer #1
1
True, The consistency principle states that a business should use the same accounting
methods and procedures from period to period.
The consistency principle helps in fair comparison between financials of different years
2
True, By accepting credit and debit​ cards, companies are able to attract more customers.
It helps in expanding the customer base.
3
True, A receivable occurs when a business sells goods or services to another party on account.
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