Which of the following statements is not true?
A) Comparability means using the same accounting principles from year to year within a company.
B) Faithful representation is the quality of information that gives assurance that it is free from error.
C) Relevant accounting information must be capable of making a difference in the decision.
D) The primary objective of financial reporting is to provide financial information that is useful to investors and creditors for making decisions.
Correct Answer:
Verified
Q19: Accrued revenues are
A)recorded when cash is received
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Q21: Fugazi City College sold season tickets for
Q22: If an adjusting entry is not made
Q23: The adjusted trial balance is prepared
A)after financial
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Q27: The cash basis of accounting is not
Q28: A contra asset account is subtracted from
Q29: The going concern assumption is that the
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