Which of the Following Documents Was the First to Be

question 39

Multiple Choice

Which of the following documents was the first to be based on an orientation toward user relevance?

• A)"Objectives of Financial Statements" (Trueblood Committee Report)
• B)"Basic Concepts and Accounting Principles Underlying Financial Statements of Business Enterprises" (APB Statement 4)
• C)"A Statement of Basic Accounting Theory" (ASOBAT)
• D)"Statement of Accounting Theory and Theory Acceptance" (SATTA)

---

Definitions:

Unstructured Information

Data or information that lacks a predefined model or organization, making it difficult to process and analyze using traditional databases or methods.

Volume

In business and finance, it refers to the quantity of goods or services traded during a given time period. In the context of stock markets, it indicates the number of shares traded.

Velocity

The speed at which something moves in a specific direction, often used in the context of data to refer to the rate of data transfer or processing.

Variety

The range and diversity of products or services offered by a business or available in a market.