Which of These Is a Fundamental Purpose of Accounting Standards

question 3

Multiple Choice

Which of these is a fundamental purpose of accounting standards? Improving:
i. accountants' ethics.
ii. social accountability.
iii. share price.
iv. resource allocation.

• A) i, ii, iii, iv
• B) i, ii,
• C) iv
• D) iii

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Definitions:

Benefits

Advantages or positive outcomes that result from a specific action, situation, or policy.

Ultimate Causes

Explanatory factors in biology that address why organisms have the traits they do, often looking at historical reasons and evolutionary processes.

Evolutionary Pressures

Various factors in the environment that influence the survival and reproduction of species, driving the process of natural selection.

Genetic Causes

Factors related to variations or mutations in genes that can lead to various traits, diseases, or conditions in organisms.