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Q: There are a number of advantages claimed in favour of the standardisation of accounting practices. Which one of the following is not one of those advantages?
“Standardisation ……………..”
a) encourages global discussion
b) allows flexibility
c) removes opportunity for innovative thinking
d) enables meaningful comparisonthe system says answer is C removes opportunity for innovative thinking.
isn’t it the answer should be B ?Didn’t you ask me earlier today about the direct method for the preparation of a statement of cash flows?
Is that not an example of flexibility that is allowed by a standard?
Do you still want to challenge the validity of answer “c”?
I see, I thought creative accounting normally means try to ‘hide’ something . I tend to link that to innovative thinking.
Thanks again Mike.
I only found your web few weeks ago, I finished your lecture series but not the notes yet. Which I don’t think I have enough time now to go into very details.
Anyway, this web going to help me sail thru other papers next year, and hopefully F7 next week.
I am self studying normally and failed once, until I found your web I see the light
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