Which of the Following Is Not a Problem of APB

question 56

Multiple Choice

Which of the following is not a problem of APB Statement 4 mentioned in the text?

• A)It is questionable whether the objectives can be implemented by means of the various principles derived from the existing body of accounting.
• B)It contains a loosely worded set of definitions.
• C)It attempts to be all things to all people.
• D)It does not state important evolutionary changes that had begun to occur.

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Definitions:

Consumption Sector

The part of an economy that represents the total spending of consumers on goods and services for personal use.

Labor Services

The work performed by individuals for which they are compensated.

Inflation Rates

Inflation rates measure the rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling.

Four-Year Loan

This is a loan that has a term or maturity of four years from the date of initiation, requiring repayment over that time frame.