Asked by Banaz Fetah on Jul 11, 2024
Verified
When financial information is measured and reported in a similar manner across different companies in the same industry it is
A) consistent.
B) comparable.
C) neutral.
D) faithfully representeD.
Comparability
An accounting principle that allows financial information to be compared across different periods or companies for analysis.
Financial Information
Data related to the financial status and activities of an individual, company, or organization.
Similar Manner
Describes actions or processes conducted in a way that is analogous or comparable to another, often used to ensure consistency.
- Comprehend the attributes of accounting information, including its timeliness, consistency, and comparability.
Verified Answer
Learning Objectives
- Comprehend the attributes of accounting information, including its timeliness, consistency, and comparability.
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