State the name of the accounting principle, concept or convention in t

State the name of the accounting principle, concept or convention in the following statements:1. Frequent changes in the methods of depreciation should be avoided.2. No accounting entry is made for free samples received.3. Information about the change in method of stock or inventory valuation and its impact should be disclosed in financial statements.4. Instead of keeping separate accounts for pencil, erasers, pen, etc., only one account styled as “Stationery Expense Account” shall be maintained.

Answer»

1. Consistency concept

2. Cost concept.

3. Full disclosure concept.

4. Materiality concept.