Which of the Following Statements Is Not True

question 46

Multiple Choice

Which of the following statements is not true?

• A)A review of financial statements,including the notes,will indicate how conservative the statements are in regard to accounting policies.
• B)Accounting policies that result in the slowest reporting of income are the most conservative.
• C)When a firm has conservative accounting policies,it is said that its earnings are of high quality.
• D)Under inflationary conditions,the least conservative inventory method is fifo.
• E)Conservative accounting policies always result in the lowest reported income for any given period of time.

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Definitions:

Extraverted College Student

A college student displaying traits of extraversion, characterized by outgoingness, sociability, and a high level of engagement with the external world.

Ambiguous

Something that can be understood or interpreted in more than one way, lacking clearness or definiteness.

Trustworthy

Refers to the ability to be relied on as honest or truthful.

Authentic

Genuine or real; not copied or false; true to one's own personality, spirit, or character.