Applying the Traditional Financial Accounting Approach Will Mean That an Entity

Applying the traditional financial accounting approach will mean that an entity that pollutes local waterways until they cannot support life will report:

A) No effects in its financial statements in relation to this outcome.
B) Only financial effects such as any penalties or fines imposed.
C) Extensive contingent liabilities for the damage caused.
D) The breach of accepted environmental practice and its effects on other local entities in the Directors' Report.
E) None of the given answers.