The first, a grade one strain to the rib muscle, is considered mild and usually heals within two to three weeks. A grade two strain is considered moderate with further damage to the muscle fibers and the healing time typically lasts three to six weeks.
consistency. A quality of accounting information that facilitates comparing a company's reporting of one accounting period to another. For example, the reader of a company's financial statements can assume that the company is using the same inventory cost flow assumption this period as it used last period or last year.or more on this term, search our site: Studies show that exam questions are a great way to learn and retain important information. Gain access to our 1,700 accounting exam questions (and answers) when you upgrade to PRO.
An accounting convention is a practice generally followed by all accountants as a result of custom, although changing norms in the accounting and financial industries result in periodic updates to them.Also known as accounting concepts, they are the groundwork of accounting.ne of the key accounting conventions is consistency. Once accountants adopt an accounting method they feel is appropriate to a client or setting, they continue to use it. This eliminates confusion and situations where accounting is unclear as a result of changing accounting methods.