Which of the Following Is a Characteristic of Financial Accounting

question 96

Multiple Choice

Which of the following is a characteristic of financial accounting information?

• A)Its preparation requires judgment.
• B)It is more about the future than it is about the past.
• C)None of it is based on estimates,assumptions,and judgments.
• D)Notes and explanations from management are not included.

---

Definitions:

Lipids

A group of naturally occurring molecules including fats, waxes, and vitamins, essential for energy storage and cell structure.

Digestive Tract

The series of organs in the digestive system through which food passes, nutrients are absorbed, and waste is eliminated; starting from the mouth and ending at the anus.

Fluid Balance

The maintenance of the correct volume and concentration of body fluids via mechanisms that regulate fluid intake and excretion.

Interstitial Fluid

The fluid that surrounds the cells in tissues, providing them with nutrients and a means to remove waste.