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AICPA Exam CPA-Financial Topic 3 Question 89 Discussion

Actual exam question for AICPA's CPA-Financial exam
Question #: 89
Topic #: 3
[All CPA-Financial Questions]

According to the FASB conceptual framework, predictive value is an ingredient of:

Show Suggested Answer Hide Answer
Suggested Answer: C

Choice 'c' is correct. Expensing insurance premiums when paid (rather than allocating them to the periods benefited) is a correction of an error in previously presented financial statements.


by Margret at Jun 01, 2024, 04:30 PM

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Bernardine
27 days ago
Predictive value, you say? Well, I predict I'm going to ace this exam! Option B is the way to go, my friends. *winks*
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Charlene
9 days ago
I agree with you, Option B is the correct choice.
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Angella
1 months ago
Haha, I bet the exam writers thought they were being so clever with this one. As if we don't have the FASB framework memorized backward and forward! Option B is the winner, no doubt about it.
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Annice
1 days ago
Predictive value is a key concept in the FASB framework, Option B all the way.
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Lenita
17 days ago
Yeah, they tried to trick us with this one, but we know our stuff.
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Laticia
21 days ago
I agree, Option B is definitely the correct choice.
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Peggy
2 months ago
Hmm, I'm not too sure about this one. Maybe I should re-read the FASB conceptual framework section on qualitative characteristics. Predictive value... relevance... decisions... *scratches head*
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Tiffiny
20 days ago
User 2
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Tawna
1 months ago
User 1
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Janae
2 months ago
Option B seems like the right answer here. Predictive value is definitely one of the key qualitative characteristics of useful accounting information according to the FASB framework.
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Reta
2 months ago
Well, I think predictive value is more aligned with Option C because it helps in making future decisions based on financial information.
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Nydia
2 months ago
I disagree, I believe it is an ingredient of Option B.
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Reta
2 months ago
I think predictive value is an ingredient of Option A.
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