The consistency principle:
Requires that all companies in the same industry use the same accounting methods of inventory valuation
Requires a company to consistently use the same accounting method of inventory valuation unless a change will improve financial reporting
Requires a company to use one method of inventory valuation exclusively
Is also called the full disclosure principle
Is also called the matching principle

Question

The consistency principle:
	Requires that all companies in the same industry use the same accounting methods of inventory valuation
	Requires a company to consistently use the same accounting method of inventory valuation unless a change will improve financial reporting
	Requires a company to use one method of inventory valuation exclusively
	Is also called the full disclosure principle
	Is also called the matching principle

anonymous · Answer

actually,the matching principle is different as it states that revenues should be matched to expenses incurred in earning them...but the two principles are related.