Which of the Following Is Not a True Statement

question 12

Multiple Choice

Which of the following is not a true statement?

• A)SFAC No. 3 defines 10 elements of financial statements.
• B)SFAC No. 3 is a resolution of the definitions presented in the discussion memorandum for the conceptual framework project.
• C)SFAC No. 3 was amended by SFAC No. 6.
• D)SFAC No. 3 discusses in detail the three views of financial accounting mentioned in the discussion memorandum.

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Definitions:

Implicit Conclusions

Conclusions not directly stated but inferred from the provided premises or evidence.

Syllogisms

Logical arguments containing three parts: a major premise, a minor premise, and a conclusion, used to derive a truth from assumed truths.

Empirical Evidence

Information acquired by observation or experimentation that is used to confirm or refute a hypothesis or theory.

Evaluating Facts

The process of assessing the accuracy and relevance of information to determine truth.