Final answer:
Comparability in accounting enables straightforward comparisons of financial statements over time for accurate analysis and decision-making.
Explanation:
Comparability is a key principle in accounting that allows for easy comparisons of financial statements between two consecutive years. By ensuring that financial information is presented consistently, users can analyze trends and performance over time accurately.
This principle is essential for stakeholders to assess an organization's financial health and make informed decisions based on reliable data.
Having comparable financial statements aids in evaluating the financial stability, growth, and efficiency of a company or entity.
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