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According to the Generally Accepted Accounting Principles (GAAP), the Full

Question 1

Multiple Choice

According to the generally accepted accounting principles (GAAP) , the full disclosure principle of accounting is ___________.


A) the requirement that the financial statement should provide all information necessary for the understanding of the financial statement
B) the assumption that the accounting entity will maintain proper accounting records from the date of its establishment to the date of its liquidation
C) the requirement that events or information must be accounted for if they make a difference to the user of the financial information
D) the requirement that all accounting transactions should be justified as much as possible on objective evidence

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