The accounting convention that seeks to reduce personal bias in financial reports is the:
A) objectivity convention.
B) business entity convention.
C) conservatism convention.
D) dual aspect convention.

Question

Quizplus · Accepted Answer

The objectivity convention requires that financial information be supported by unbiased evidence and that it not be influenced by personal bias or prejudice. This ensures that financial reports are reliable and accurate.

The Accounting Convention That Seeks to Reduce Personal Bias in Financial