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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881

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BuyFindarrow_forward

Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881
Textbook Problem
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Describe the constraint on providing useful information.

To determine

Constraint on useful information

Theone and most important constraint on useful information is a cost constraint which states that the cost of preparing the financial statement shall not be more than the benefit derived from the respective financial statement.

The constraint on useful information.

Explanation

The most pervasive constraint on the usefulness of information extracted from financial statements is the cost constraint. This cost constraint of useful information states that t...

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