Regarding Codes,which of the Following Is False

question 97

Multiple Choice

Regarding codes,which of the following is false?

• A)The code should be consistent with its intended use.
• B)Codes should allow for growth in the number of items to be coded.
• C)Coding systems should be as simple as possible.
• D)Coding systems need not be consistent across divisions of an organization.

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Definitions:

Fair Value

The price that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Profit Or Loss Model

A financial model that calculates the difference between a company’s revenues and its expenses, helping understand its profitability over a certain period.

Unrealized Gains

Increases in the value of assets that have not yet been sold, and therefore, the gains have not been realized or reflected in the income statement.

Common Shares

Equity securities that represent ownership in a corporation, giving holders voting rights and a share in the company's profits through dividends.