Question: Financial statements may require adjusting because: Question 1 Answer a . Management have objectively set out the financial statements. b . The accounting standards reflect

Financial statements may require adjusting because:
Question 1 Answer
a.
Management have objectively set out the financial statements.
b.
The accounting standards reflect the underlying economics of the firm.
c.
There is too much management bias in the financial statements.
d.
The firm has used the same accounting choices within GAAP as it did in previous financial statements.

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