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 Financial accounting information is characterized by all of the following except
  • a)
    It is historical in nature. 
  • b)
    It is factual, so it does not require judgement to prepare. 
  • c)
    It results from inexact and appropriate measures. 
  • d)
    It is enhanced by management’s explanation. 
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
Financial accounting information is characterized by all of the follow...
The correct answer is B.
Judgement is required to prepare accounting information since it is based on various accounting assumptions, policies, principles and standards. Therefore, financial accounting information involves professional judgement which cannot be ignored .
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Most Upvoted Answer
Financial accounting information is characterized by all of the follow...
D)It is enhanced by management.
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Community Answer
Financial accounting information is characterized by all of the follow...
Yes
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Financial accounting information is characterized by all of the following excepta)It is historical in nature.b)It is factual, so it does not require judgement to prepare.c)It results from inexact and appropriate measures.d)It is enhanced by management’s explanation.Correct answer is option 'B'. Can you explain this answer?
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Financial accounting information is characterized by all of the following excepta)It is historical in nature.b)It is factual, so it does not require judgement to prepare.c)It results from inexact and appropriate measures.d)It is enhanced by management’s explanation.Correct answer is option 'B'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Financial accounting information is characterized by all of the following excepta)It is historical in nature.b)It is factual, so it does not require judgement to prepare.c)It results from inexact and appropriate measures.d)It is enhanced by management’s explanation.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Financial accounting information is characterized by all of the following excepta)It is historical in nature.b)It is factual, so it does not require judgement to prepare.c)It results from inexact and appropriate measures.d)It is enhanced by management’s explanation.Correct answer is option 'B'. Can you explain this answer?.
Solutions for Financial accounting information is characterized by all of the following excepta)It is historical in nature.b)It is factual, so it does not require judgement to prepare.c)It results from inexact and appropriate measures.d)It is enhanced by management’s explanation.Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
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