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Eve started a business on 1 January 20X2 selling used cars. During the year to 31 December 20X2, Eve purchased 30 cars and sold 20 cars.
In SOPL for the year to 31 December 20×2, Eve included the cost of 26 cars as part of the cost of sales and treated the remaining 4 cars as closing inventory.
What accounting concept is Eve applying in F/Ss to 31 Dec 20X2?
a. Comparability
b. Timeliness
c. Consistency
d. AccrualsI think the answer is (c).
Am I right, sir? answer my question pls.
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