A Supererogatory Act Is an Act That Would Be Good

question 51

True/False

A supererogatory act is an act that would be good not to do to, but doing it is not absolutely wrong.

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Definitions:

FASB

Financial Accounting Standards Board, an independent nonprofit organization responsible for establishing accounting and financial reporting standards for companies and nonprofit organizations in the United States.

Bright-line Rules

Clearly defined rules or standards that leave little ambiguity and are easy to implement or enforce.

Pronouncements

Official statements or declarations, often from authoritative entities, that dictate principles or procedures in various fields like accounting.

Rigid Standards

Strict, inflexible guidelines or criteria that must be followed rigorously.