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.

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Definitions:

Sensorimotor Stage

The first stage in Piaget's theory of cognitive development, where infants learn about the world through sensory experiences and manipulating objects.

Physical Development

The development beginning in early childhood and extending into late adolescence, focusing on the improvement of both gross and fine motor abilities along with pubertal changes.

Cognitive Development

The process by which a person perceives, thinks, and gains understanding of his or her world through the interaction and influence of genetic and learned factors.

Emotional Development

The process through which individuals learn to recognize, understand, express, and manage emotions.