WAEC Accounting 2020 Objective — Question 34
Question 34 of 50 from the West African Examinations Council (WAEC) Accounting 2020 Objective paper, with the correct answer and a full explanation.
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The concept that guides a firm to adopt a regular method of recording transactions in its books over a period is
- A. periodicity concept
- B. consistency conceptCorrect
- C. going concern concept
- D. historical cost concept
Explanation
The accounting concept that states that a firm should stick with a particular method in accounting for its business transactions consistently is the consistency concept.
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