Asked by
Hillman Smith
on Oct 28, 2024
Verified
FASB financial accounting concepts on using estimated future cash flow information in accounting measurements identified each of the following four principles except
A) the cash flows should consider all relevant future events and uncertainties
B) the assumptions used to select interest rates should be consistent with the assumptions inherent in the estimated cash flow amounts
C) the estimated cash flows and interest rates should be free from bias and unrelated factors
D) the estimated cash flows should reflect a single most likely minimum or maximum possible amount, rather than a range of possible cash flows
FASB Financial Accounting Concepts
A framework of accounting standards and guidelines established by the Financial Accounting Standards Board to ensure uniformity and clarity in financial reporting.
Estimated Future Cash Flow
Projections of the amount of money expected to be generated or expended by a business in future periods.
- Acquire knowledge of the money's value over time.
Verified Answer
MB
Learning Objectives
- Acquire knowledge of the money's value over time.