The consistency convention requires that
a. a company use the same independent auditors year after year.
b. all companies operating in the same industry use the same accounting methods.
c. the selection of a company's accounting policies be disclosed in its financial statements.
d. a company use the same accounting procedures year after year.
D
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Growingreen, a gourmet fresh food store that sells only the highest quality fruits, orders 100 lbs. of peaches from Western Fruits "on approval." Growingreen has never dealt with Western before this transaction. The peaches arrived on Saturday, but the owners of Growingreen were too busy to open the crates. Sunday they are closed. Monday at 4 p.m., they opened the boxes and inspected the peaches
They did not meet the high standards of Growingreen, so they nailed the crates shut and ordered a truck to return them the next day. They arrived at Western on Thursday, totally spoiled, a week after they were sent. This is the first time Western knew they were not being accepted. Who is responsible for the damages to the peaches? a. Growingreen, since it did not inspect and notify Western within a reasonable time. b. Growingreen, the risk of loss was on them when the peaches arrived. c. Western, since they retained the risk of loss until approval. d. Western, because they agreed to take the goods back.
Refer to Table 1-1. At a market price of $1,600, there will be
A) a surplus of 2,000 computers. B) neither a surplus nor a shortage of computers as the market is in equilibrium at this price. C) a surplus or a shortage of 2,000 computers. D) a shortage of 2,000 computers.
To which two leadership shadows does Taoism speaks MOST directly?
A. Power and loyalty. B. Deceit and irresponsibility C. Power and privilege D. Inconsistency and irresponsibility
If the cost of investigating an operation to identify the cause of an apparent out-of-control condition is low, narrower control limits should be selected
a. True b. False Indicate whether the statement is true or false