Which of the Following Statements Is False with Respect to the Qualitative

question 179

Multiple Choice

Which of the following statements is false with respect to the qualitative characteristics of useful accounting information?

• A)Comparability is concerned with different companies using the same accounting methods; whereas, consistency is concerned with a single company using the same accounting methods over time.
• B)Trade-offs are often necessary in evaluating relevant versus reliable information.
• C)All external and internal events must be fully disclosed in the accounting system.
• D)The full disclosure policy should be followed in all situations that would made a difference to financial statement users.

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Definitions:

Saccule

A small, bed-like structure in the vestibular system of the inner ear, contributing to the sense of balance.

Maculae

Specialized structures in the inner ear responsible for detecting linear acceleration and head position relative to gravity.

Vestibule

An entrance or enclosed area leading to other spaces; in anatomy, it refers to spaces within the inner ear and other organs.

Stereocilia

Hairlike projections on the surface of certain cells, such as those in the inner ear, involved in mechanosensing.