Future contingencies that are allocations do not have real information content for financial statement users.
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Q8: Minimizing reported income would not be a
Q9: Improving comparability may lessen relevance or reliability.
Q10: Lev advocated restricting disclosures to "good news"
Q11: Flexibility applies to situations in which there
Q12: Finite uniformity should always be used in
Q14: An event, as defined in SFAC No.
Q15: Flexibility is an approach to the uniformity
Q16: Whenever possible, flexibility should be used in
Q17: Environmental conditions are elements beyond managerial control.
Q18: In accounting, we presume that if rigid
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