AICPA Exam CPA-Financial Topic 1 Question 57 Discussion

Actual exam question for AICPA's CPA-Financial exam

Question #: 57
Topic #: 1

According to the FASB's conceptual framework, the process of reporting an item in the financial statements of an entity is:

ARecognition.

BRealization.

CAllocation.

DMatching.

Show Suggested Answer

Suggested Answer: A

Choice 'a' is correct. Recognition.

According to the FASB's conceptual framework, the process of reporting an item in the financial statements of an entity is recognition.

by Arminda at Aug 19, 2022, 07:16 PM

Limited Time Offer

25%

Off

Contribute your Thoughts:

Submit Cancel

Currently there are no comments in this discussion, be the first to comment!