In the first week of December 2016, Elisa Company signs a major contract to develop an accounting information system for Edward No work is begun the current year, yet the notes to the financial statements discuss the nature and peso amount of the contract. This is an example of: completeness or full disclosure historical cost conservatism relevance

Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 25E
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  1. In the first week of December 2016, Elisa Company signs a major contract to develop an accounting information system for Edward No work is begun the current year, yet the notes to the financial statements discuss the nature and peso amount of the contract. This is an example of:
    • completeness or full disclosure
    • historical cost
    • conservatism
    • relevance
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