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Accounting Principles: Mastery Test

Select the correct answer.

Which accounting principle makes it easy to make comparisons in financial statements for two consecutive years?

A. going concern
B. monetary unit
C. business entity
D. dual-aspect

Sagot :

GinnyAnsweridn

Final answer:

The dual-aspect accounting principle enables easy comparisons in financial statements for consecutive years.


Explanation:

Comparability in financial statements for two consecutive years is facilitated by the dual-aspect accounting principle. This principle ensures that every transaction has two aspects: a debit and a credit, making it easier to track changes in a company's financial position over time.


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