What Is Meant by the Term Economic Consequences of Accounting

question 46

Multiple Choice

What is meant by the term economic consequences of accounting policy choice?

• A) The selection of accounting policies is expensive and time-consuming.
• B) Accounting numbers affect the financial positions of various users.
• C) Accounting policies are selected to minimise the position of creditors.
• D) The creation of accounting standards consumes a large amount of resources.

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Definitions:

X-rayed

The process of examining the internal structure of objects using X-rays.

Symbolize

To represent or stand for something else, especially through the use of symbols or symbolic actions.

Conjuncts

Components of a larger logical structure or statement that are joined together by a conjunction, each of which is necessary for the truth of the whole.

Main Connective

In logic, the operator (such as AND, OR, NOT) that determines the truth value of a complex sentence based on the truth values of its components.