Which of the Following Statements Is not True

question 157

Multiple Choice

Which of the following statements is not true?

• A)Comparability means using the same accounting principles from year to year within a company.
• B)Faithful representation is the quality of information that gives assurance that it is free of error.
• C)Relevant accounting information must be capable of making a difference in the decision.
• D)The primary objective of financial reporting is to provide financial information that is useful to investors and creditors for making decisions.

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Definitions:

Slate

A fine-grained, foliated, metamorphic rock commonly used in roofing, flooring, and other construction applications.

Marble

A metamorphic rock formed from limestone, characterized by its veined appearance and used in sculpture and architecture.

Mining Exploration

The process of searching for minerals and ores in the earth through geological study, sampling, and drilling.

Environmental Effects

The impact of human activities on the natural world, including changes to ecosystems, biodiversity, and climate.