Which of these is not a cost of financial reporting?
A) Costs of preparing the annual report.
B) Costs of adhering to accounting standards.
C) Loss of competitive position as a result of the disclosure of financial information outside the business.
D) Cost of budgeting within the organisation.

Question

Quizplus · Accepted Answer

Cost of budgeting within the organisation is not a cost of financial reporting as it is a separate activity that involves internal planning and decision-making. The other options, A, B, and C, are all costs that companies incur as a result of financial reporting.

Which of These Is Not a Cost of Financial Reporting