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Question
Use of common unit of measurement and common format of reporting promotes________.
Use of common unit of measurement and common format of reporting promotes________.
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Solution
The correct option is A Comparability
'Comparability' characteristic of accounting information requires the use of common units and common format of reporting. It is the most important quality of accounting information. Comparability means accounting information of a current year can be comparable with that of the previous years.
'Comparability' characteristic of accounting information requires the use of common units and common format of reporting. It is the most important quality of accounting information. Comparability means accounting information of a current year can be comparable with that of the previous years.
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