Which of the Following Is Not a Characteristic or Limitation

question 15

Multiple Choice

Which of the following is not a characteristic or limitation of the kind of information that financial reporting by business enterprises can provide?

• A) The information results in approximate, rather than exact, measures.
• B) The information largely reflects the financial effects of transactions that have already happened.
• C) The information is provided and used at a cost.
• D)All of the above are characteristics or limitations of the kind of information that financial reporting by business enterprises can provide.

---

Definitions:

Validity

The extent to which a concept, conclusion, or measurement is well-founded and likely corresponds accurately to the real world.

Tacit Knowledge

Knowledge gained from personal experience that is difficult to express verbally and to formally document.

Practical Know-how

The skill or knowledge required to perform tasks or solve problems in real-world, practical situations.

Lexical Decision Tasks

A psychological experiment where participants classify visual stimuli as words or non-words quickly and accurately.