Which of the Following Propositions Is Not True If We

question 3

Multiple Choice

Which of the following propositions is not true if we accept the notion that accounting regulation is considered to be the output of a political process?

• A) Financial accounting is objective, neutral and apolitical.
• B) Standard-setting bodies encourage affected parties to make submissions on draft versions of the proposed accounting standards.
• C) Many decisions that are made are the outcome of compromise.
• D) If the social welfare impact of accounting policies were ignored, the basis for the existence of a regulatory body would disappear.

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Definitions:

Community

A community is a group of people living in the same place or having a particular characteristic in common, often sharing common values or interests.

Personal Wealth

The total value of an individual's assets, including money, property, and investments, minus all debts.

Power

The ability or capacity to do something or act in a particular way, often involving the control over resources or people.

Negative Emotions

Feelings that are generally considered to be displeasing or unfavorable, such as sadness, anger, fear, and guilt, which can impact mental and physical well-being.