The level of disclosure contained in the notes to the financial statements is limited by the
A) cost versus the benefit of providing the disclosures.
B) accounting policies selected by the business.
C) time period assumption.
D) going concern assumption.

Question

Quizplus · Accepted Answer

The level of disclosure in the notes to financial statements is often limited by the cost versus the benefit of providing those disclosures. This principle suggests that the cost of providing information should not outweigh the benefits that users gain from having the information.

The Level of Disclosure Contained in the Notes to the Financial