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“Accounting Information should be reliable” Do you agree with this statement? If yes, why?

Asked by Topperlearning User 7th June 2016, 10:32 AM
Answered by Expert
Answer:

Yes, accounting information should be reliable because it helps the users to arrive at decisions such as:

  1. Understanding the position of the business i.e. whether it is earning profit of loss incurred.
  2. Arriving at informed decisions such as determination of selling price, cost controls and reduction and investment into new projects.
Answered by Expert 7th June 2016, 12:32 PM
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