22. Explain Convention Of Consistency?
In accounting, the convention in consistency is a principle that the same accounting principles should be used for preparing financial statements over a number of time periods. This enables the management to draw important conclusions regarding the working of the concern over a longer period.
In accounting, the convention in consistency is a principle that the same accounting principles should be used for preparing financial statements over a number of time periods. This enables the management to draw important conclusions regarding the working of the concern over a longer period.
