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:

Recommended Daily Allowances (RDAs)

Nutritional intake levels considered sufficient to meet the health needs of nearly all healthy individuals in a population.

Daily Values

Recommended daily nutrient intake levels established to inform consumers about nutrient content in food.

Full Liquid Diet

A diet consisting solely of liquids and foods that turn to liquid at room temperature, designed to provide nutrition while requiring minimal digestion.

Pureed Vegetables

Vegetables that have been blended or processed into a creamy, smooth consistency, often used for individuals with difficulty chewing or swallowing.