Match the descriptions with their terms :
-All circumstances and events that could make a difference to the decisions financial statement users might make should be disclosed in the financial statements.
A) Resource providers
B) Materiality
C) Assets
D) SAC 2
E) Full disclosure principle
F) Cost
G) A conceptual framework
H) Verifiability
I) The Conceptual Framework
J) The Framework
K) Losses
L) Contingent liabilities

Question

Quizplus · Accepted Answer

The full disclosure principle requires that all relevant and necessary information for the understanding of a company's financial statements is disclosed, ensuring that users have all the information they need to make informed decisions.

Match the Descriptions with Their Terms