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AICPA Exam CPA-Financial Topic 3 Question 71 Discussion
Actual exam question for
AICPA's
CPA Financial Accounting and Reporting exam
Question #: 71
Topic #: 3
[All CPA Financial Accounting and Reporting Questions]
Topic #: 3
According to the FASB conceptual framework, what does the concept of reliability in financial reporting include?
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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