Even when no errors have been made,accounting is never 100 percent accurate because of the extensive use of estimates.

Name: Even when no errors have been made,accounting is never 100 percent accurate because of the extensive use of estimates.
Brand: Quizplus
Rating: 4.8 (34 reviews)

Question

Quizplus · Accepted Answer

Accounting involves a lot of estimates, such as depreciation expenses, inventory counts, and bad debt expenses. These estimates are based on assumptions and judgments made by the accountant, and as a result, the financial statements cannot be 100% accurate.

Even When No Errors Have Been Made,accounting Is Never 100