Question: Accounting principles and policies are to be standardised to achieve: a) Transparency b) Consistency c) Comparability d) All of these
Answer: (d) Description: Standard accounting principles and policies provide greater transparency to the financial statements. If same set of policies are followed over a period of time it lends to consistency which consequently provides greater and enhanced comparability.
Question:
Accounting principles and policies are to be standardised to achieve: a) Transparency b) Consistency c) Comparability d) All of these Answer:
(d) Description: Standard accounting principles and policies provide greater transparency to the financial statements. If same set of policies are followed over a period of time it lends to consistency which consequently provides greater and enhanced comparability. Source: CoolInterview.com
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