Question

20. The limitations of accounting are:
A) Influenced by Personal Judgements
(B) Based on Historical Costs
(0) Affected by window-dressing
(D) All of these
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Answer 1

Answer:

all of these

Explanation:

The various accounts can be manipulated by false or manipulated figures to give the impression of a healthier balance sheet than what is actually present. This method is known as window dressing

Auditors sometimes do disclose the important events occurring after the balance sheet date to rectify these limitations of accounting. Historical Costs. Accounting often uses historical costs to measure the values