Answer:
Comparability : Inter company comparison , Consistency : Company time series comparison.
Explanation:
Consistency is quality of accounting information, enabling the same company's financial performance comparison over different periods of time. Consistency needs stable accounting methods used for a considerable period of time, unless their changing is necessary.
Eg : Using whichever method straight line or written down value - to calculate depreciation, should not be changed unless necessary.
Comparability is the quality of accounting information, enabling the company's financial performance comparison with other companies. It needs accounting methods following generally accepted accounting principles.
Eg: Accrual basis of accounting is generally standardised, acceptable and using other i.e cash basis won't enable company's comparison with others.
Consistency and comparability are very crucial to analyse company's financial performance - growth with time, growth as per industry standards respectively.
Answer:
Did your question get removed?
Explanation:
Answer:
Option (D) is correct.
Explanation:
Nominal variables are the variable which are calculated on the basis of current market prices such as nominal GDP. Nominal GDP incorporates all of the changes happened in a current year such as changes occured in the inflation or deflation in a current year.
On the other hand, real variables are those variables which are calculated on the basis of base year prices to take the effects of the inflation or deflation during the period of time. For example, Real GDP. real GDP is determined by the market prices of the base year, so that one can compare the actual effect effect of inflation or deflation during a period of time.
Answer:
$2000 of canceled debt that Marvin must report on his return
Explanation:
Please see attachment