Which is not a limitation of financial accounting?
A. Inadequate information to fix up the price of products manufactured
B. Lack of data for comparison of cost of operation of the firm with other firms in the industry
C. The data available is historical in nature
D. Complies with the various legal requirements
Answer:C
Which is not a limitation of financial accounting?
A. Inadequate information to fix up the price of products manufactured B. Lack of data for comparison of cost of operation of the firm with other firms in the industry C. The data available is historical in nature D. Complies with the various legal requirements