QUESTION 9

1. Which of the following statements is NOT TRUE?

   	A.	Financial reports to be useful to the users must represent relevant phenomena and faithfully represent the substance of the phenomena that it purports to represent.
   	B.	Financial reports provide information about the reporting entitys economic resources, claims against the reporting entity and the effects of transactions and other events and conditions that change those resources and claims.
   	C.	Relevant financial information is capable of making a difference in the decisions made by users if it has predictive value and confirmatory value.
   	D.	An entity has to prepare financial statements on a going concern basis when the entity's boad of directors intends to liquidate the entity within 12 months.