Accounting rules, procedures and methods should be observed alike and should not be changed from year to year. This is called accounting convention of __________.

Consistency

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Full disclosure

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Conservatism

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Going concern

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Solution

The correct option is B Consistency
Consistency Concept: The accounting information provided by the financial statements would be useful in drawing conclusions regarding the working of an enterprise only when it allows comparisons over a period of time as well as with the working of other enterprises. This can be possible only when accounting policies and practices followed by enterprises are uniform and are consistent over the period of time.

Suggest Corrections

List-I(Accounting concept)	List-II(Principle involved)
I. Consistency	(a) Losses are anticipated and accounted for in advance but profits are not accounted for until realised
II. Comparability	(b) All the relevant financial information should be summarised and presented in the accounting statements
III. Conservatism	(c) According procedures in an entity should be followed uniformly from period to period
IV. Disclosure	(d) Accounting statement of different periods of an entity and those of different entities of a period should be based on the same accounting principles and procedures
	(e) Personal Judgement of accountants should not influence accounting measurements