Under the Conceptual Framework for Financial Reporting which of the following statements is not a feature of financial information’s “comparability” characteristics? Comparability is uniformity A comparison requires at least two items Consistency, although related to comparability, is not the same Comparability is the goal; consistency helps to achieve that goal

Under the Conceptual Framework for Financial Reporting which of the following statements is not a feature of financial information’s “comparability” characteristics? Comparability is uniformity A comparison requires at least two items Consistency, although related to comparability, is not the same Comparability is the goal; consistency helps to achieve that goal

Auditing: A Risk Based-Approach to Conducting a Quality Audit

10th Edition

ISBN:9781305080577

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter17: Other Services Provided By Audit Firms

Section: Chapter Questions

Problem 57RSCQ

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Question

Under the Conceptual Framework for Financial Reporting which of the following statements is not a feature of financial information’s “comparability” characteristics?
- Comparability is uniformity
- A comparison requires at least two items
- Consistency, although related to comparability, is not the same
- Comparability is the goal; consistency helps to achieve that goal

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