Which of the Following Is Not a Cost of Financial

question 15

Multiple Choice

Which of the following is not a cost of financial reporting?

• A) Cost of preparing the annual report.
• B) Cost of complying with accounting standards.
• C) Cost of preparing the organisation's annual budgets for all departments.
• D) Loss of competitive position as a result of the disclosure of financial information outside the business.

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Definitions:

Waterfall

A steep descent of water within a stream, such as the place where it crosses a cliff or steep ledge.

Meander

A winding curve or bend in a river or road, formed as the watercourse erodes the landscape in lateral directions.

Aerial Photograph

A photograph taken from the air, such as a photograph taken by a camera mounted in an aircraft.

Braided Stream

A type of river characterized by a network of river channels separated by small, often temporary, islands called braid bars.