Which Statement Is Incorrect

question 24

Multiple Choice

Which statement is incorrect?

• A) APB statement No. 4. 'Basic-Concepts and Accounting Principles Underlying Financial Statements of Business Enterprises' was the US profession's first conceptual framework
• B) The trend in accounting over many years has been to reduce disclosure in published reports
• C) The double-entry bookkeeping system was developed in Italy during the 13^th and 14^th centuries
• D) In earlier times many present-day transactions were not contemplated by accountants

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Definitions:

Social Movements

Collective, organized efforts aiming to promote or resist change in society or its institutions.

Jurgen Habermas

A German sociologist and philosopher known for his theory on the public sphere and communicative action.

Early Modernity

A historical period roughly spanning from the 16th to the 18th century, characterized by significant changes in areas such as science, politics, and society, marking the transition from the medieval to the modern world.

Zygmunt Bauman

A Polish sociologist known for his analysis of the links between modernity, globalization, and consumerism, and for coining the term "liquid modernity."