Which of the Following Is Not a Characteristic of Financial

question 129

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 by external parties.
• C)Information is subjective,relevant,and future-oriented.
• D)Reports are prepared periodically.

Comprehend the process of exchanging plant assets and recognizing gains or losses.

Gain knowledge on the accounting for natural resources, including the depletion process.

Learn about the initial measurement and subsequent accounting for property, plant, and equipment (PPE).

Understand the treatment of research and development costs and legal fees associated with patents.

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Definitions:

Drain

A drain is a conduit or channel designed to remove water or other liquids from one area, preventing accumulation and enabling proper flow to a disposal area.

Pathogen

Disease-causing agent such as viruses, parasitic bacteria, fungi, and animals.

Disease-causing Agents

Pathogens or microorganisms such as bacteria, viruses, fungi, or parasites that can cause disease in their host.

Bacteria

Microscopic, single-celled organisms that inhabit virtually all environments on Earth, including soil, water, organic matter, and the bodies of plants and animals.