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As part of the objective of general-purpose financial reporting, there is an emphasis on "Assessing...

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Accounting

As part of the objective of general-purpose financial reporting, there is an emphasis on "Assessing cash flow prospects." Under International
Financial Reporting Standards (IFRS) this is interpreted to mean:
A. All of the choices are correct regarding "assessing cash flow prospects" under IFRS
B. Cash basis accounting is preferred over acernal based accounting
C. Information about the financial effects of cash receipts and cash payments is generally considered the best indicator of a company's present and
continuing ability to generate favorable cash flows
D. Over the long run, trends in revenues and expenses are generally more meaningful than trends in eash receipts and disbursements.

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