- This topic has 2 replies, 2 voices, and was last updated 10 years ago by .
Viewing 3 posts - 1 through 3 (of 3 total)
Viewing 3 posts - 1 through 3 (of 3 total)
- You must be logged in to reply to this topic.
OpenTuition recommends the new interactive BPP books for December 2024 exams.
Get your discount code >>
Forums › ACCA Forums › ACCA FA Financial Accounting Forums › Concepts
Which one of the following statements is correct?
A Items must be excluded from the financial statements if they are immaterial.
B It is a legal requirement that the legal form of a transaction must always be shown
in the financial statements of a company.
C In times of rising prices, the use of historical cost accounting will tend to overstate
profits and understate assets.
D Unless financial information is provided in a timely manner, it might lose its
relevance.
The correct answer is D, but isnt C also a correct answer?
I also think C is correct as well..
Where did you find this question?
Its from an old exam kit bro. Must be a question error.