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प्रश्न
According to this principle, accounts should be prepared in such a way that all the material information required by users of financial statements is clearly disclosed.
विकल्प
Matching principle
Principle of full disclosure
Dual aspect principle
Realisation concept
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उत्तर
Principle of full disclosure
Explanation:
The principle of full disclosure requires that all material information that could influence the decision-making of financial statement users be fully and clearly disclosed. This ensures transparency and allows stakeholders to make informed decisions based on complete and accurate information.
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संबंधित प्रश्न
GAAP stands for ______.
According to Business Entity Concept:
“Firms live forever.” Explain with reference to the concept of accounting.
“Every transaction has two effects.” (with reference to the concept of Accounting). Give a reason either for or against.
Explain Matching Concept of GAAP.
Explain the Dual Aspect Principle.
Explain Accounting Period Concept.
Explain the revenue principle.
Explain the principle of consistency.
“The principle of full disclosure and principle of materiality are contradictory.” Comment.
