Which Statement Relating to the Conceptual Framework's Concept of Understandability

Multiple Choice

Which statement relating to the Conceptual Framework's concept of understandability is incorrect?

A) Information about complex matters should be included in the reports if it is considered relevant to decision making.
B) It is expected that users of financial statements will be willing to study the information with reasonable diligence.
C) The financial reports are required to be simple to read and understand.
D) It is assumed that readers of financial reports have a reasonable knowledge of business and economic activities.