Which of the following characteristics exist in critical accounting communications?
A)the nature of the estimate is material due to the levels of subjectivity
B)judgment is necessary to account for highly uncertain matters or the susceptibility of such matters to change
C)the impact of the estimate on financial condition or operating performance is material
D)All of these answer choices are correct.

Question

Quizplus · Accepted Answer

All of these characteristics exist in critical accounting communications. The nature of the estimate is material due to the levels of subjectivity, judgment is necessary to account for highly uncertain matters or the susceptibility of such matters to change, and the impact of the estimate on financial condition or operating performance is material. Therefore, all of the answer choices are correct.

Which of the Following Characteristics Exist in Critical Accounting Communications