Select the incorrect statement concerning accounting standards.
A) They guide the preparation of reliable financial reports.
B) They evolve with changes in business requirements.
C) They improve the comparability of financial reports.
D) They only apply to companies.

Question

Quizplus · Accepted Answer

Accounting standards apply not only to companies, but also to other entities such as non-profit organizations, government agencies, and individuals.

Select the Incorrect Statement Concerning Accounting Standards