What is the difference between comparability and consistency?
Comparability allows comparisons to be made between or among companies. Even though a certain amount of freedom exists in selecting accounting techniques, when this information is disclosed in the financial statements, users can still compare the information when they know what technique is used.
Consistency refers to the application of the same accounting techniques over time. It involves the relationships between a set of numbers over several periods, but within one company only, unlike comparability that can be between or among companies.
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Indicate whether the statement is true or false
It is most accurate to say that when customers purchase products they act on ________ as they judge values and costs
A) objective value B) perceived value C) customer lifetime value D) company image E) society's interests
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A. Registered bonds. B. Serial bonds. C. Debentures. D. Callable bonds. E. Sinking fund bonds.
A set of rules for insuring consistency in naming database objects is called:
A) Database Schema B) Tables C) Naming Conventions D) SQL