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:

Personality Development

The evolution and maturation of an individual's personality and mental characteristics throughout their life.

Early Adulthood

The life stage typically ranging from ages 20 to 40, characterized by increased independence, responsibility, and personal development.

Heredity and Environment

The dual factors that influence an individual's development and characteristics; heredity refers to genetic inheritance, while the environment encompasses all external factors.

Cultural Practices

These are the patterns of behavior accepted by a society that reflect the beliefs, customs, and traditions of its people.