Which of the Following Is Not a Characteristic of Financial

question 68

Multiple Choice

Which of the following is not a characteristic of financial accounting?

• A)Information is reported at the decision making level.
• B)Information is used by external parties.
• C)Information is objective,reliable and historical.
• D)Reports are prepared periodically.

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Definitions:

Off-Price Retailing

Selling brand-name merchandise at lower than regular prices.

Final Selling Price

The final amount at which a product is sold to the consumer, including all discounts, offers, and added taxes.

Retailer's Cost

The total expenses incurred by a retailer in acquiring goods for sale, not just the purchase price, but also including shipping, storage, and other costs.

Brand-Name Merchandise

Products that are recognized and sold under a well-known, established brand name, often associated with higher quality and consumer trust.