To Be Useful for Decision Making, Absolute Dollar Amounts in Financial

question 37

Multiple Choice

To be useful for decision making, absolute dollar amounts in financial statements need to be compared with other information. Which of the following are possible comparisons?
I. Prior year results
II. Current year sales, total assets etc.
III. Results of similar businesses or industry averages

• A) I and II only
• B) I, II and III
• C) II and III only
• D) None of the above