Which of the following is not an objective of generally accepted accounting principles?
A) To minimize the amount of income taxes owed.
B) To ensure that both preparers and users of financial statements understand the concepts and assumptions used in presenting information within these statements.
C) To enhance the relevance and reliability of information contained in financial statements.
D) To increase the comparability of financial statements prepared by different companies.
Correct Answer:
Verified
Q55: Which of the following is considered a
Q61: Audits of financial statements are performed by:
A)The
Q63: The basic purpose of generally accepted accounting
Q69: The Financial Accounting Standards Board is:
A) Responsible
Q70: A strong internal control structure:
A) Contributes to
Q75: Generally accepted accounting principles are intended to
Q76: The auditor's report on the published financial
Q78: The set of standards,assumptions,and concepts that form
Q82: In the phrase "generally accepted accounting principles,"
Q86: The accounting standards and concepts used in
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents