The disclosure principle states that a company should disclose all major accounting methods and procedures in the ________.

Question

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The disclosure principle requires a company to disclose all significant accounting methods and procedures used in preparing its financial statements. These disclosures are typically made in the footnotes to the financial statements, which provide additional information and context for the numbers presented in the balance sheet and income statement. Internal accounting documents are not meant for public disclosure, and while some information about accounting methods may be included in the balance sheet or income statement, these documents are primarily focused on presenting financial results.

The Disclosure Principle States That a Company Should Disclose All