Taking an inventory of goods on hand would be representative of what accounting concept or principle?

Name: Taking an inventory of goods on hand would be representative of what accounting concept or principle?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Taking an inventory of goods on hand is representative of the objectivity principle in accounting, which emphasizes the need for financial information to be based on objective evidence (e.g., physical counts, invoices) rather than subjective opinion.

Taking an Inventory of Goods on Hand Would Be Representative