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AICPA Exam CPA-Financial Topic 2 Question 73 Discussion

Actual exam question for AICPA's CPA Financial Accounting and Reporting exam
Question #: 73
Topic #: 2
[All CPA Financial Accounting and Reporting Questions]

According to the FASB conceptual framework, what does the concept of reliability in financial reporting include?

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Suggested Answer: D

Choice 'd' is correct. The concept of reliability in financial reporting includes; neutrality, representational faithfulness and verifiability.

Choices 'a', 'b', and 'c' are incorrect, per the above.


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