________ is the process by which a firm gradually changes in response to global competition; domestic market saturation; and the desire for expansion, new markets, and diversification

Which of the following states that the business should use the same accounting methods from period to period?

A) materiality concept B) consistency principle C) conservatism D) disclosure principle

When an earthquake occurred in California, a studio was filming a number of movies. In addition to the physical damage the studio sustained, the studio was forced to delay or cancel release of some films. The profits lost because of delay or cancellation illustrate:

(a) consequential loss (b) direct los (c) subjective probability (d) objective probability