The term "true and fair view" tends to be a replacement for ________ used in the U.S.
A) Full and fair
B) Present fairly
C) Representational faithfulness
D) Economic substance

Question

Quizplus · Accepted Answer

"True and fair view" is the equivalent term to "present fairly" used in the U.S. Full and fair is a term often used in auditing standards, while representational faithfulness and economic substance are concepts related to financial reporting and accounting.

The Term "True and Fair View" Tends to Be a Replacement