The Canadian Institute of Chartered Accountants (CICA) recognizes that it would be improper for all companies to use identical and restrictive accounting principles.

Question

Quizplus · Accepted Answer

The statement is true. The CICA recognizes the diversity of companies and their needs, and therefore allows for some flexibility in accounting principles that companies can use.

The Canadian Institute of Chartered Accountants (CICA) Recognizes That It