Intermediate Accounting 14th Edition

Published by Wiley
ISBN 10: 0470587237
ISBN 13: 978-0-47058-723-2

Chapter 1 - Financial Accounting and Accounting Standards - Concepts for Analysis - Instructions - Page 30: CA1-20b

Answer

Economic outcomes mean the effect of accounting reports regarding the wealth ranking of users and issuers of financial information and the basic leadership conduct coming about because of that effect.

Work Step by Step

The economic outcome contention is established on the information economics approach which regards bookkeeping data as an economic decent and assesses bookkeeping data in a cost-benefit structure.
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