The Most Accurate Statement of the FASB's Position on Conservative

question 53

Multiple Choice

The most accurate statement of the FASB's position on conservative accounting is:

• A) The FASB favors conservatism in both its conceptual framework and in all of its existing standards.
• B) The FASB is against conservatism in its conceptual framework and in all of its existing standards.
• C) The FASB is against conservatism all of its existing standards, but in its conceptual framework it favors conservative accounting.
• D) The FASB is against conservatism in its conceptual framework, but some of the existing standards use a conservative approach.

---

Definitions:

-2.05 To 2.05

Often refers to a range of values, possibly related to statistical significance levels, confidences intervals, or standard score (Z-score) ranges.

Middle 87.4%

Represents the percentage of data falling in the middle range of a distribution, often referred to in terms of percentile ranks or areas under a curve in statistics.

-1.46 To 1.46

This range might represent values within one standard deviation from the mean in a normally distributed dataset, indicative of central concentration.

Lowest 9%

Indicates the minimum value or percentile, possibly in a collection of data or measurements, standing at 9%.