Which of the following is considered a pervasive constraint by Statement of Financial Accounting Concepts No.2
A)Benefitscosts
B)Conservatism
C)Timeliness
D)Verifiability

Question

Which of the following is considered a pervasive constraint by Statement of Financial Accounting Concepts No.2
A)Benefits>costs
B)Conservatism
C)Timeliness
D)Verifiability

Quizplus · Accepted Answer

The pervasive constraint in accounting, according to Statement of Financial Accounting Concepts No. 2, is that the benefits of providing financial information should outweigh the costs associated with providing it.

Which of the Following Is Considered a Pervasive Constraint by Statement