The accounting concept that requires financial statement information to be supported by independent,unbiased evidence is:
A)Business entity assumption.
B)Revenue recognition principle.
C)Going-concern assumption.
D)Time-period assumption.
E)Objectivity principle.

Question

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The Objectivity principle, also known as the principle of verifiability, requires financial statement information to be supported by independent, unbiased evidence in order to increase the reliability and credibility of the information presented. This principle helps to ensure that financial statements are free from bias and accurately reflect the financial position and performance of a business.

The Accounting Concept That Requires Financial Statement Information to Be