Which of the Following Is $\underline{not}$ A True Statement?
A)There Is Empirical Evidence That Future Cash

Which of the following is $\underline{not}$ a true statement?

A) There is empirical evidence that future cash flows are better forecasted with accrual data than with cash flow data.
B) Accrual accounting numbers incorporate the attribute that determines firm valuation-net cash flow data.
C) Changes in reported accounting earnings affect firm valuation through changes in stock prices.
D) The value to investors of the information in financial reporting lies in its role as an historical record.