UrbanPro

Take Class 12 Tuition from the Best Tutors

  • Affordable fees
  • 1-1 or Group class
  • Flexible Timings
  • Verified Tutors

Search in

Why should a business follow the consistency principle?

Asked by Last Modified  

Follow 1
Answer

Please enter your answer

I am Searching for new authors ??

The aim of consistency principle is to preserve the comparability of financial statements. The rules, practices, concepts and principles used in accounting should be continuously observed and applied year after year. Comparisons of financial results of the business...
read more
The aim of consistency principle is to preserve the comparability of financial statements. The rules, practices, concepts and principles used in accounting should be continuously observed and applied year after year. Comparisons of financial results of the business among different accounting period can be significant and meaningful only when consistent practices were followed in ascertaining them. read less
Comments

Related Questions

What is the difference between amalgamation and absorption?
amalgamation is cosolidation of one or more entity to form form new entity while absorption is only merger of two compay no new company is created. amalgmation includes absorption
Akash
0 0
5

How many types of GST in India 

Four types of GST in our India. 1.SGST 2.CGST 3.UGST 4.IGST
Subhash Chandra Thakur
Define Matrix.
Collection of numbers arranged in rows and columns.
Deepti
Why are rules of debit and credit same for liability and capital?
According to the accounting entity concept, business is seperated from its owner.So the investment made by the owner (ie capital) is the fund that is to be repaid to the owner itself, at the very last...
Sanjay
0 0
5
What are the fixed assets? Give example.
as per as 10 fixed asset is an asset which is beingh kept in the business for the purpose producing goods or rendering services i e that asset is not being held for the purpose of sale in the normal course...
Vishal
0 0
5

Now ask question in any of the 1000+ Categories, and get Answers from Tutors and Trainers on UrbanPro.com

Ask a Question

Related Lessons

Why Tally is most popular accounting software in India?
Why is Tally the most popular accounting software in India? The top 10 reasons follow. 1.Easy maintenance : Maintaining an accounting software package hasn’t been more comfortable. A transformation...

Introduction To Accounting: Part 15: Cost Concept Or Historical Cost Concept
According to the Cost Concept, an asset is recorded in the books of account at the price paid to acquire it and the cost is the basis for all subsequent accounting of the asset. Since the acquisition...

Current Ratio - Ratio Analysis, NCERT Class 12
Book-Keeping and Accountancy - Balance Sheet Ratio, Liquidity Ratios, ICSE/ISC, IGCSE/GCSE, State Board, CBSE-

GST Goods and Service Tax Meaning and Type
The goods and services tax (GST) is a tax on goods and services sold domestically for consumption. The tax is included in the final price and paid by consumers at point of sale and passed to the government...

Introduction To Accounting: Part 5: Financial Statements
Throughout the year, a number of Business Transactions take place. At the end of the year, any businessman would want to know whether he has made any profit during the year, and if so, what is the amount...

Recommended Articles

Radhe Shyam is a highly skilled accounts and finance trainer with 8 years of experience in teaching. Accounting is challenging for many students and that’s where Radhe Shyam’s expertise comes into play. He helps his students not only in understanding the subject but also advises them on how to overcome the fear of accounts...

Read full article >

Urmila is a passionate teacher with over 8 years of experience in teaching. She is currently pursuing her Ph. D. She provides classes for Class 11, Class 12, MBBS and Medical tuition.  Urmila began her career in teaching long before she became a teacher. She used to provide classes for foreign national students in her college...

Read full article >

Sandhya is a proactive educationalist. She conducts classes for CBSE, PUC, ICSE, I.B. and IGCSE. Having a 6-year experience in teaching, she connects with her students and provides tutoring as per their understanding. She mentors her students personally and strives them to achieve their goals with ease. Being an enthusiastic...

Read full article >

Swati is a renowned Hindi tutor with 7 years of experience in teaching. She conducts classes for various students ranging from class 6- class 12 and also BA students. Having pursued her education at Madras University where she did her Masters in Hindi, Swati knows her way around students. She believes that each student...

Read full article >

Looking for Class 12 Tuition ?

Learn from the Best Tutors on UrbanPro

Are you a Tutor or Training Institute?

Join UrbanPro Today to find students near you
X

Looking for Class 12 Tuition Classes?

The best tutors for Class 12 Tuition Classes are on UrbanPro

  • Select the best Tutor
  • Book & Attend a Free Demo
  • Pay and start Learning

Take Class 12 Tuition with the Best Tutors

The best Tutors for Class 12 Tuition Classes are on UrbanPro

This website uses cookies

We use cookies to improve user experience. Choose what cookies you allow us to use. You can read more about our Cookie Policy in our Privacy Policy

Accept All
Decline All

UrbanPro.com is India's largest network of most trusted tutors and institutes. Over 55 lakh students rely on UrbanPro.com, to fulfill their learning requirements across 1,000+ categories. Using UrbanPro.com, parents, and students can compare multiple Tutors and Institutes and choose the one that best suits their requirements. More than 7.5 lakh verified Tutors and Institutes are helping millions of students every day and growing their tutoring business on UrbanPro.com. Whether you are looking for a tutor to learn mathematics, a German language trainer to brush up your German language skills or an institute to upgrade your IT skills, we have got the best selection of Tutors and Training Institutes for you. Read more