AICPA CPA-Financial Exam - Topic 3 Question 34 Discussion

Actual exam question for AICPA's CPA-Financial exam

Question #: 34
Topic #: 3

[All CPA-Financial Questions]

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

AEffectiveness.

BCertainty.

CPrecision.

DNeutrality.

Show Suggested Answer

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.

by Jani at May 07, 2022, 12:30 AM

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5 months ago

Reliability includes neutrality for sure.

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Okay, let's see. Data in motion is vulnerable to eavesdropping and tampering, so the key is to make sure the communication channel is properly secured. I think B is the best answer, but I'll double-check the other options just to be sure.

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Verlene

5 months ago

Hmm, this seems like a tricky one. I'll need to think carefully about the different components of a connection server and which ones should not be changed or disabled.

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Gianna

5 months ago

Okay, I think I've got this. The primary concern for a privacy technologist would be geolocation, since that could allow the helpdesk to track the user's location without their consent. I'll mark that as my answer.

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Jillian

5 months ago

I'm feeling confident about this question. The http_pool seems like the logical choice to remove since it's not directly related to the client traffic.

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AICPA CPA-Financial Exam - Topic 3 Question 34 Discussion

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