Multiple choice

All of the following are limitations of According Standards, except

  1. the choice between different alternative accounting treatments is difficult

  2. there may be trend towards rigidity

  3. Accounting Standards cannot override the statute

  4. all of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

All the options listed (A, B, and C) are recognized limitations of accounting standards. Since the question asks which is NOT a limitation, and all three listed are actual limitations, option D (all of the above) is the correct answer - meaning all the limitations listed are indeed valid.

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