Which of the following expectations is not in line with statements by standards-setters that they consider the economic and social consequences of standards on affected parties when setting accounting standards?
A) Accounting standards should be neutral and free from bias
B) Accounting standards should represent faithfully the underlying transactions
C) Accounting standards should consider the potential impact on others
D) None of the given options is correct

Question

Quizplus · Accepted Answer

Accounting standards should be neutral and free from bias is not in line with statements by standards-setters that they consider the economic and social consequences of standards on affected parties when setting accounting standards.

Which of the Following Expectations Is Not in Line with Statements