Multiple Choice
Which of the following statement(s) is/are true of the qualitative characteristic "comparability"?
A) A financial report must show corresponding results for the preceding period.
B) A financial report must be presented in a consistent manner,hence,an entity must adopt similar accounting policies from period to period even though a more reliable and relevant alternative exist.
C) A financial report must contain all material and relevant items.
D) All of the given answers.
E) A financial report must show corresponding results for the preceding period and be presented in a consistent manner,hence,an entity must adopt similar accounting policies from period to period even though a more reliable and relevant alternative exist.
Correct Answer:

Answered by ExamLex AI
Correct Answer:
Answered by ExamLex AI
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