3. To be a faithful representation as described by the International Accounting Standards Board’s (IASB’s)
Conceptual Framework, information must be all of the following except:
(A) All the information that is necessary for faithful representation in provided.
(B) It recognizes that the nature and amount of information included in financial reports reflects a series of
judgmental trade-offs.
(C) The information generally amplify or explain the items presented in the main body of the statements.
(D) A company cannot select information to favor one set of interested parties over another.
(E) An information item that is free from error will be a more accurate representation of a financial item.