Which of the following statements isfalseregarding the FASB'S view on valuation?

Multiple Choice

• The FASB believes that current cash flows are more useful than current accrual accounting earnings in predicting future cash flows.
• The FASB contends that users pay attention to a firm's accounting earnings because this measure improves their ability to forecast future cash flows.
• The FASB believes that a reliable valuation needs to rely on more than an analysis of cash receipts and payments during a certain period.
• The FASB stresses that the primary objective of financial reporting is to provide useful information to investors and creditors in assessing the amount, timing, and uncertainty of future net cash flows.