Which of the Following Is Not a True Statement

question 36

Multiple Choice

Which of the following is not a true statement?

• A) Prior to SFAS 33, the majority of accounting literature on the subject of changing prices dealt with the possibility of restating historical cost financial statements for changes in general price levels.
• B) Prior to SFAS 33, the majority of accounting literature on the subject of changing prices dealt with the possibility of adopting current cost as a new measurement system.
• C) The need to consider the effects of changing prices in financial reports has followed a rather evolutionary development.
• D) Measuring current costs is easier than restating historical cost for changes in units of currency.

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Definitions:

Pronouns Reversal

A language development phenomenon where children mistakenly use personal pronouns ("I", "you", "he/she") the opposite way from the norm.

Socioeconomic Background

The social and economic factors that characterize the family environment in which a person is raised.

Ethnic Differences

Variations in practices, traditions, and behaviors among groups of people identified by shared ancestry, culture, or nationality.

Autism

An autism spectrum disorder characterized by extreme aloneness, communication problems, intolerance of change, and ritualistic behavior.