Accounting information is said to be reliable if
A) it is based on recent information.
B) it was prepared by someone with good credentials in accounting,such as a certified public accountant.
C) it can be independently verified.
D) it complies with rules and standards of the Internal Revenue Service.

Question

Quizplus · Accepted Answer

Reliability of accounting information is based on its ability to be independently verified, meaning that the information has been proven to be accurate and consistent through third-party validation or scrutiny. The other options may contribute to the reliability of the information but they are not the primary determining factors.

Accounting Information Is Said to Be Reliable If