Which of the Following Documents Expressed the Opinion That a Choice

question 12

Multiple Choice

Which of the following documents expressed the opinion that a choice among accounting valuation systems could not be made because of the diversity of users?

• A)"Objectives of Financial Statements" (Trueblood Committee Report)
• B)"Basic Concepts and Accounting Principles Underlying Financial Statements of Business Enterprises" (APB Statement 4)
• C)"A Statement of Basic Accounting Theory" (ASOBAT)
• D)"Statement of Accounting Theory and Theory Acceptance" (SATTA)

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Definitions:

Deterred

Discouraged from taking an action due to fear of negative consequences or obstacles.

Catharsis Effect

The process of releasing, and thereby providing relief from, strong or repressed emotions, often discussed in therapeutic contexts.

Positive

Characterized by the presence or possession of features or qualities rather than their absence.

Negative

A term often used to denote the absence or opposition of a condition, quality, or action.