Answer to Question #62556 in Accounting for Asif
The Accounting principle of Consistency require a company to use the same rate of depreciation for all of its assets. is it true or false? please explain with justification
However different assets require using different rates and types of depreciation (for example, unit-of-production depreciation, straight-line depreciation, etc). And here we could see the Consistency principle in using the same depreciation rates for the corresponding assets, through many periods of time. But the company does not use the same depreciation rate for all its assets.
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