Which of the following represents a contradiction,rather than a trade-off that needs to be balanced?
A) Information may be reliable, but the time taken to ensure its reliability may result in it being potentially irrelevant.
B) Determining whether the benefits derived from information are greater than the costs to produce it.
C) The argument for neutrality and faithful representation; but standard-setters consider the economic consequences of standards.
D) Information may be relevant, but the data may be so unreliable that it could be potentially misleading.

Question

Quizplus · Accepted Answer

Option C represents a contradiction because it highlights a fundamental conflict between the goal of achieving neutrality and faithful representation in financial reporting and the consideration of economic consequences by standard-setters, which can influence the neutrality of the standards.

Which of the Following Represents a Contradiction,rather Than a Trade-Off