The Major Limitation of Financial Statements Is

question 101

Multiple Choice

The major limitation of financial statements is

• A) in their complexity.
• B) in their lack of comparability.
• C) in their use of historical cost accounting.
• D) in their lack of detail.

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Definitions:

Genitals

The reproductive organs, especially the external sex organs.

Engorged

Swollen with fluid or blood; typically refers to body parts that have filled with such to an extreme level.

Erection

The physiological response resulting in the increased blood flow to the penis, leading to its enlargement and firmness.

Specific Object

A distinct item or entity that is identifiable and can be distinguished from other objects.