The principle of consistency means that:
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the accounting methods used by an entity never change. |
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B) |
the same accounting methods are used by all firms in an industry. |
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C) |
the effect of any change in an accounting method will be disclosed in the financial statements or notes thereto. |
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D) |
there are no alternative methods of accounting for the same transaction. |
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E) |
the balance sheet must always balance. |
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