Which of the Following Is Not True of Accounting Principles

question 43

Multiple Choice

Which of the following is not true of accounting principles?

• A) Financial accountants follow generally accepted accounting principles (GAAP).
• B) Following GAAP allows accounting information users to compare one company to another.
• C) A new accounting principle can be adopted with stockholders' approval.
• D) The Financial Accounting Standards Board (FASB) has primary responsibility for developing accounting principles.

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Definitions:

Hold Bottle

The action of supporting a feeding bottle during infant feeding to control the flow of milk or formula.

Months

Units of time, typically used to measure periods closer to the length of the natural period related to the motion of the Moon; each month roughly corresponds to one cycle of the moon's phases.

Lithotomy

A medical position used during examinations or surgical procedures, where the patient lies on their back with legs raised and feet in stirrups.

Gynecological Exam

A healthcare procedure involving the physical examination of a woman's reproductive system.