A sound accounting framework allows for all of the following benefits
Identical items being reported on the financial statements of different companies
Uniform comparisons between companies
Consistency in financial reporting across industries
Increased reliability and relevance of financial statements

Question

02-07-2022
Business

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A sound accounting framework allows for all of the following benefits
Identical items being reported on the financial statements of different companies
Uniform comparisons between companies
Consistency in financial reporting across industries
Increased reliability and relevance of financial statements

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jayilych4real jayilych4real · Answer 1 · 2022-07-04T17:16:56+02:00

A sound accounting framework allows for all of the following benefits EXCEPT that A. Identical items being reported on the financial statements of different companies

What is Accounting?

This refers to the financial record that is taken about a given business to find out the profit and loss income.

Hence, we can see that based on the use of a sound accounting framework, there exists several benefits such as uniform comparisons between companies, etc, but option A is the correct answer.