2A1D ALL OF THE FOLLOWING ARE LIMITATIONS TO THE INFORMATION PROVIDED...

16.

CSO: 2A1d

LOS: 2A1d

All of the following are limitations to the information provided on the statement of

financial position except the

a.

quality of the earnings reported for the enterprise.

b.

judgments and estimates used regarding the collectibility, salability, and longevity

of assets.

c.

omission of items that are of financial value to the business such as the worth of

the employees.

d.

lack of current valuation for most assets and liabilities.