Which statement is true?
A) The provision of information for control is regarded as a more appropriate objective for external reporting than the decision-usefulness objective
B) Decision-usefulness as the objective for financial reporting is a relatively recent innovation
C) The historical cost measurement basis is specifically designed to meet the decision-usefulness objective
D) None of the statements is true, i.e., all are untrue

Question

Quizplus · Accepted Answer

Decision-usefulness as the objective for financial reporting is not a recent innovation, but rather has been the primary objective for many years. Statements A and C are untrue, and statement D is not an option as at least one statement is true.

Which Statement Is True