Decide whether these statements are TRUE, FALSE or NOT STATED.
  1. Accounting is a set of complex processes prepared for people.
    True
    False
    Not stated
  2. Accountants often make mistakes because their opinions influence the accounting reports.
    True
    False
    Not stated
  3. The provision of financial information will help to allocate resources.
    True
    False
    Not stated
  4. Buying or selling shares is not a resource allocation decision.
    True
    False
    Not stated
  5. Bank managers lend money to companies only after consulting accountants.
    True
    False
    Not stated
  6. Accounting is useful for all types of economies.
    True
    False
    Not stated
  7. Accountants take decisions about the perfomance of the company.
    True
    False
    Not stated
  8. Effects of past decisions can be used to help in making future decisions.
    True
    False
    Not stated
  9. Past can be redone.
    True
    False
    Not stated
  10. "Backward - looking" accounting is sometimes useless.
    True
    False
    Not stated