Which of the Following Is NOT Correct

question 49

Multiple Choice

Which of the following is NOT correct?

• A) Alex's daily maintenance and timely repairs around his home should increase his sale price.
• B) Brenda's new hot tub will probably not increase the selling price more than her recently added storage space.
• C) Caryn's suggestion to open drapes but keep lights turned off to conserve energy will give her property a positive image.
• D) Darryl's decision to sell his house "by owner" could save him several thousands of dollars.
• E) Eric's listing with a real estate agent will provide him with services such as advice on features of his home to highlight.

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Definitions:

Consistency

In accounting, the principle that mandates the use of the same accounting methods and practices over time for financial reporting.

Qualitative Characteristics

Aspects that contribute to the usefulness of financial information, including its relevance and reliability.

Financial Statements

Formal records of the financial activities and position of a business, person, or other entity, presenting the financial performance and position at a given period.