63. The full discdosure principle in the financial statement preparation is best described by which of the following? * Information about each account balance appearing in the financial statements is to be included in the notes to financial statements. Enough information should be disclosed in the financial statements so a person wishing to invest in the entity can make a profitable decision. All information related to the business and operating objectives is required to be disclosed in the financial statements. Disclosure of any financial facts significant enough to influence the judgment of an informed user.

63. The full discdosure principle in the financial statement preparation is best described by which of the following? * Information about each account balance appearing in the financial statements is to be included in the notes to financial statements. Enough information should be disclosed in the financial statements so a person wishing to invest in the entity can make a profitable decision. All information related to the business and operating objectives is required to be disclosed in the financial statements. Disclosure of any financial facts significant enough to influence the judgment of an informed user.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter1: Accounting And The Financial Statements

Section: Chapter Questions

Problem 13MCQ

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