Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello

تمرين 4

The answers to these questions appear on page 85.Note: In order to review as many chapter concepts as possible, some self-test questions include more than one correct answer.n these cases, you should indicate all of the correct answers.
Which of the following statements relating to the role of professional judgment in the financial reporting process is (are) true
a.ifferent accountants may evaluate similar situations differently.
b.he determination of which items should be disclosed in notes to financial statements requires professional judgment.
c.nce a complete list of generally accepted accounting principles is prepared, judgment by accountants will no longer enter into the financial reporting process.
d.he possibility exists that professional judgment later may prove to have been incorrect.