Accounting standards allow financial statement preparers to use judgement in a manner that best represents ________.
A) earnings management
B) estimated reality
C) a firm's financial position
D) economic reality

Question

Quizplus · Accepted Answer

Accounting standards aim to reflect the economic reality of a firm's financial situation, allowing preparers to use judgment to present a true and fair view of the company's financial performance and position.

Accounting Standards Allow Financial Statement Preparers to Use Judgement in a Manner