Which of the Following Is Not True Regarding Accounting Estimates

question 90

Multiple Choice

Which of the following is not true regarding accounting estimates?

• A) Accounting estimates are based on management's knowledge and experience of past and current events.
• B) Accounting estimates are based on management's assumptions about conditions that are expected to exist and courses of action the company expects to take.
• C) Accounting estimates are based on both subjective and objective factors
• D) Because accounting estimates are based, in part, on management's knowledge and experience, they are not biased.

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