Question

Comparability and consistency are two terms used to describe information about different companies and information about different periods in the same company that are prepared and presented in a similar manner.

O True O False

Answer 1

The statement is: True.

Step-by-step explanation:

Comparability refers to the capacity of comparing two or more companies regardless of their industry over one economic period while consistency is the capacity firms have to keep their operations going under the same method over different periods of time.