Which of the Following Statements Is NOT True

question 34

Multiple Choice

Which of the following statements is NOT true?

• A) Consistency 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 all amounts reported are known with certainty.
• C) Relevant accounting information must be capable of making a difference in a decision.
• D) Accounting standards for private entities has four principal qualitative characteristics.