Which of the Following Statements Is False

question 58

Multiple Choice

Which of the following statements is false?

• A) It is possible to compare one firm's accounting data with another firm's accounting data as long as both firms used generally accepted accounting procedures.
• B) Many managers compare the financial results from one accounting period with the results from previous accounting periods.
• C) Most corporations include in their annual reports comparisons of important elements of their financial statements for recent years.
• D) The format and information contained in one firm's financial statements are most likely to differ from the format and information contained in another firm's financial statements.
• E) Many firms compare their financial results with industry averages.

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