Which of the Following Statements Is Not True with Regard

question 34

Multiple Choice

Which of the following statements is not true with regard to the benefits derived from the FASB's conceptual framework of accounting?

• A)It serves as a guide in establishing standards for the FASB.
• B)The Statements of Financial Accounting Concepts is the primary source of GAAP for accountants.
• C)It establishes the objectives of financial reporting.
• D)It enhances comparability between different companies' financial statements.

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Definitions:

Phone Tone

The sound generated by a telephone to indicate an incoming call or text message, or the tones used in touch-tone dialing.

Depressed

A state of depression, a period of low spirits; referring to a fracture, usually a fracture of the skull where bone fragments are driven (depressed) inward.

Phone Tone

refers to the vocal characteristics and attitude conveyed through voice during telephone communications.

Angry

A strong feeling of displeasure or hostility, often as a result of something perceived as wrong or threatening.