Worldatwork Exam T7 Topic 1 Question 73 Discussion

Actual exam question for Worldatwork's T7 exam

Question #: 73
Topic #: 1

[All T7 Questions]

Identify the characteristic being employed when companies in the same industry are using the same accounting principles.

AComparability

BRelevance

CFaithful representation

DVerifiability

Show Suggested Answer

Suggested Answer: B

by Virgina at Aug 05, 2023, 11:33 PM

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1 days ago

I agree, A) Comparability is the right answer. It's all about being able to apples-to-apples comparison, am I right?

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4 days ago

Definitely A) Comparability. Companies using the same principles makes it easier to compare their financial statements across the industry.

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7 days ago

I'm not sure, but I think it might be C) Faithful representation because it ensures the information is accurate and complete.

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9 days ago

I agree with Eliseo, companies using the same accounting principles allows for easier comparison.

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13 days ago

I think the answer is A) Comparability.

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