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How does the concept of consistency aid in the analysis of financial statements? Why type of accounting disclosure is required if this concept is not applied? Answer:

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter5: Professional Auditing Standards And The Audit Opinion Formulation Process

Section: Chapter Questions

Problem 21RQSC

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Question

How does the concept of consistency aid in the analysis of
financial statements? Why type of accounting disclosure is
required if this concept is not applied?
Answer:

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