___________________requires that the transactions and events reported on be presented in a manner that is in agreement with the underlying facts and circumstances.
A)Representational faithfulness
B)Comparability
C)Reliability
D)Accountability value.

Question

Quizplus · Accepted Answer

Representational faithfulness is a fundamental quality in financial reporting that requires the information presented in financial statements to accurately reflect the economic transactions and events that have occurred. This ensures that users of the financial statements are provided with a true and fair view of the company's financial performance and position.

___________________Requires That the Transactions and Events Reported on Be Presented