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:

Competitive Advantage

The unique attributes or capabilities that allow an organization to outperform its competitors.

Set Apart

means to distinguish oneself or something as different and superior in comparison to others.

Competition

The rivalry between businesses or individuals for market share, customers, or resources.

Competitive Advantage

refers to attributes that allow an organization to outperform its competitors, including cost structure, product offerings, brand reputation, and customer service.