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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
According to the ______ Principle of accounting, transactions are recorded on the assumption that the business will exist for an indefinite period of time.
Justify the following:
Every transaction is recorded in at least three accounts.
On the basis of this concept, only those transactions are recorded in accounts which can be expressed in terms of money.
Name the basic principles of accounting.
"The capital provided by the owner is treated as a liability of the firm." Explain the concept on which the above depends.
"Accounting records serve as a source of information to the creditors of an organisation". Comment.
Explain any two basic concepts of accounting.
Explain Accounting Period Concept.
Why are Generally Accepted Accounting Principles (GAAP) needed?
Name any four concepts of GAAP.
