Final answer:
The consistency principle in accounting refers to using the same accounting methods and procedures from period to period, ensuring comparability and reliability of financial statements.
Step-by-step explanation:
The accounting rule that states a business should use the same accounting methods and procedures from period to period is known as the consistency principle. This principle is essential for ensuring that a company's financial statements can be compared over multiple periods with reliability. The consistency principle means that once a company adopts an accounting method, it should continue to follow that method for all subsequent accounting periods unless there is a legitimate reason to change. This enhances the comparability of the financial statements which is crucial for investors, creditors, and other stakeholders who rely on them to make informed decisions.