Which of the Following Is Not a Current Trend in Accounting-Standards

question 40

Multiple Choice

Which of the following is not a current trend in accounting-standards setting?

• A) increase in political involvement
• B) move toward principles-based system
• C) focus on asset/liability approach
• D) emphasis on measuring fair value

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Definitions:

Capacity

The maximum amount of work that a system, facility, or workforce can produce or handle over a given period.

Expected Profit

The predicted amount of profit calculated by estimating revenues and subtracting estimated costs and expenses.

Landfill

A site for the disposal of waste materials by burying them, and is the oldest form of waste treatment.

Optimal Quantity

The best or most favorable amount of a good or product to order or produce, taking into account factors like cost minimization and service level optimization.