Which of the Following Is/are Constraints in the Financial Reporting

question 30

Multiple Choice

Which of the following is/are constraints in the financial reporting process?

• A)Classifying a revenue versus an expense in the income statement.
• B)Using the historical cost versus the fair value method to measure transactions.
• C)Recognizing an asset versus a liability in the balance sheet.
• D)Benefits of information versus the costs of producing that information.

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