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:

Dichotomies

A division or contrast between two things that are represented as being opposed or entirely different.

MMPI-A

The Minnesota Multiphasic Personality Inventory-Adolescent, a psychological assessment tool designed specifically for teenagers.

Normal Aspects

Characteristics or behaviors that are considered typical or expected within a certain context or population.

Abnormal Aspects

Features or behaviors that deviate significantly from what is considered typical or normal within a culture or society.