The Conceptual Framework States That an Important Implication of the Qualitative

Multiple Choice

The Conceptual Framework states that an important implication of the qualitative characteristic of comparability is that:

A) It will be used to predict outcomes of past,present or future events
B) It will be used to assess the representational faithfulness of the financial reports
C) Users will be informed of the accounting policies used in the preparation of the financial reports
D) If there is a choice of accounting methods one method should be chosen and then applied throughout the life of the entity