Which of the Following Is $\underline{not}$ A True Statement Regarding Accounting for Development Stage Enterprises?
A)SFAS

Multiple Choice

Which of the following is $\underline{not}$ a true statement regarding accounting for development stage enterprises?

A) SFAS No. 7 requires complete disclosure by the development stage enterprise to avoid misleading financial statement users by heavy initial losses.
B) SFAS No. 7 achieved uniformity on the basis of the nature of the enterprise rather than on the basis of the nature of the transaction.
C) The FASB opted for rigid uniformity in selecting a solution as opposed to finite uniformity, where a relevant circumstance might be viewed as the development stage of the enterprise.
D) SFAS No. 7 requires that costs of a similar nature be accounted for similarly, regardless of the stage of development of the entity incurring the cost.