Which Statement Relating to the Conceptual Framework's Concept of Understandability

question 30

Multiple Choice

Which statement relating to the Conceptual Framework's concept of understandability that is not true?

• A) Information about complex matters should be included in the reports if it is considered relevant.
• B) It is expected that users of financial statements will be willing to study the information with reasonable diligence.
• C) In preparing financial statements it should be assumed that users possess very little knowledge accounting.
• D) Every attempt should be made to communicate information in the most effective manner.

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Definitions:

NPO

An abbreviation for the Latin phrase "nil per os," meaning "nothing by mouth," used in medical instructions to indicate that a patient should not consume any food or drink.

Prone Position

Refers to lying flat, especially face downward.

Spine

the central support structure of the vertebral column, consisting of vertebrae that extend from the skull to the pelvis.

Trendelenburg Position

A medical position where the patient's legs are elevated higher than the head, often used to improve venous return to the heart.