Sample
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MC Question 1
Which of the following are required to meet the comparability characteristic of useful financial information?
| (1) | Entities are required to disclose their accounting policies |
|---|---|
| (2) | Corresponding information is required to be provided in financial statements |
| (3) | Entities must use the same accounting policies from period to period |
| (4) | All assets within a class should be depreciated at the same rate |
A 1 and 2
B 2 and 3
C 3 and 4
D 1 and 4