Which of the Following Expectations Is Not in Line with Statements

question 7

Multiple Choice

Which of the following expectations is not in line with statements by standards-setters that they consider the economic and social consequences of standards on affected parties when setting accounting standards?

• A) Accounting standards should be neutral and free from bias
• B) Accounting standards should represent faithfully the underlying transactions
• C) Accounting standards should consider the potential impact on others
• D) None of the given options is correct

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Definitions:

Franklin Delano Roosevelt

The thirty-second U.S. President, who was in office for four terms and guided the nation during the Great Depression as well as World War II.

Political Career

A professional trajectory focused on acquiring and exercising political power, often through elected positions or appointments in government.

Community Organizers

Individuals who coordinate efforts to bring groups of people together to advocate for community changes around social, political, or economic issues.

Franklin Delano Roosevelt

The 32nd President of the United States, serving from 1933 to 1945, known for his leadership during the Great Depression and World War II, as well as for implementing the New Deal.