An Implication of the Fact That Traditional Financial Accounting Is

Multiple Choice

An implication of the fact that traditional financial accounting is based on a model that emphasises property rights is:

A) fair values become of critical importance.
B) that such rights are recognised as intangible assets.
C) many social costs are ignored.
D) that these financial reports are always prepared on a 'true and fair' basis.
E) that auditors have an easier job in verifying financial statements.