Discussion Forum : Analysis Of Financial Statements
Question -
Which of the following statement is true?
Statement A: Financial statements are prepared on the basis of accounting principles.
Statement B: Any changes in the accounting principles or method will affect the utility of the financial statements.
Answer: Option C
:
C
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:
C
Both statements A and B are true. i.e
Financial statements are prepared on the basis of accounting principles.
Any changes in the accounting principles or method will affect the utility of the financial statements.
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