Multiple Choice
Which statement is incorrect?
A) APB statement No. 4. 'Basic-Concepts and Accounting Principles Underlying Financial Statements of Business Enterprises' was the US profession's first conceptual framework
B) The trend in accounting over many years has been to reduce disclosure in published reports
C) The double-entry bookkeeping system was developed in Italy during the 13th and 14th centuries
D) In earlier times many present-day transactions were not contemplated by accountants
Correct Answer:
Verified
Correct Answer:
Verified
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