Financial information which does not favor one set of interested parties over another is: A. neutral....
Financial information which does not favor one set of interested parties over another is:
| A. |
neutral. |
|
| B. |
verifiable. |
|
| C. |
relevant. |
|
| D. |
faithfully represented. |
Homework Answers
FROM THE OBJECTIVE OF FINANCIAL REPORTING
The Correct answer is A. Neutral.
Neutrality means that a company cannot select information to favor one set of interested parties over another. Unbiased information must be the overriding consideration.
Faithful Representation means that the numbers and descriptions match what really existed or happened.
Verifiable occurs when independent measures, using the same methods obtain similar results.
Relevant means a account information capable of making difference in a decision.
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Financial information which does not favor one
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