Which of the Following Is Not a Characteristic of Financial

question 110

Multiple Choice

Which of the following is not a characteristic of financial accounting?

• A)Financial reports are prepared according to GAAP.
• B)Information is used primarily by internal parties.
• C)Information is objective,reliable,and historical.
• D)Reports are prepared periodically.

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Definitions:

Lateral Inhibition

A neural mechanism that increases contrast and sharpness in visual and auditory pathways by inhibiting neighboring neurons' activity.

Physiological Mechanism

The processes and functions of an organism or its parts that contribute to the physical and chemical phenomena associated with life.

Color Blindness

A vision impairment where an individual has difficulty distinguishing between certain colors, typically red and green or blue and yellow.

Distinguish

The ability or action of recognizing the difference between two or more things or individuals.