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WAEC Financial Accounting 2018 Question 19

Question 19

Accounting Concepts and Conventions

The consistency concept aims at

  1. A.ensuring that all expenses are matched against revenue.
  2. B.reducing cost.
  3. C.comparability of accounting records.
  4. D.suppressing profits to be declared.
Show the answer and explanation

Answer: C (comparability of accounting records.)

Explanation

Using the same methods each year makes records comparable.