Reporting the details of notes is consistent with which accounting principle that requires financial statements (including footnotes)to report all relevant information?
A)Relevance.
B)Full disclosure.
C)Evaluation.
D)Materiality.
E)Expense recognition (matching).

Question

Quizplus · Accepted Answer

Full disclosure is the accounting principle that requires financial statements, including footnotes, to report all relevant information that may impact the decision-making process of users of the financial statements. Therefore, reporting the details of notes is consistent with the full disclosure principle.

Reporting the Details of Notes Is Consistent with Which Accounting