Final answer:
The FASB requires GAAP to be consistently applied to ensure comparability and consistency in financial reporting, which aids stakeholders in making informed decisions and ensures the reliability of financial information.
Step-by-step explanation:
A primary reason that the Financial Accounting Standards Board (FASB) requires that Generally Accepted Accounting Principles (GAAP) be consistently applied from one period to the next is to ensure comparability and consistency in financial reporting. Comparability allows stakeholders to compare the financial statements of a company over multiple periods and make informed decisions based on trends and financial performance. Furthermore, consistency helps in the verification and reliability of financial statements, as it minimizes variations that might arise from changing accounting methods or practices.