AICPA Exam CPA-Financial Topic 3 Question 89 Discussion

Actual exam question for AICPA's CPA-Financial exam

Question #: 89
Topic #: 3

[All CPA-Financial Questions]

According to the FASB conceptual framework, predictive value is an ingredient of:

AOption A

BOption B

COption C

DOption D

Show Suggested Answer

Suggested Answer: C

Choice 'c' is correct. Expensing insurance premiums when paid (rather than allocating them to the periods benefited) is a correction of an error in previously presented financial statements.

by Margret at Jun 01, 2024, 04:30 PM

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Nydia

10 hours ago

I disagree, I believe it is an ingredient of Option B.

upvoted 0 times

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Reta

3 days ago

I think predictive value is an ingredient of Option A.

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