The consistency concept aims at
...The consistency concept aims at
Ensuring that all expenses are matched against revenue
Reducing cost
Comparability of accounting records
Suppressing profits to be declared
Correct answer is C
The concept of consistency means that accounting methods once adopted must be applied consistently in the future, and same methods and techniques must be used for similar situations
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\(\begin{array}{c|c} July & 1 & \text{cash in hand, N420, Cash at Bank} & N6,500 \\ &...