Information is verifiable if two knowledgeable and independent people would generally agree that it faithfully represents the economic reality.

Name: Information is verifiable if two knowledgeable and independent people would generally agree that it faithfully represents the economic reality.
Brand: Quizplus
Rating: 4.8 (40 reviews)

Question

Quizplus · Accepted Answer

Verifiability in accounting means that information is considered reliable if independent observers, using the same methods, can reach a consensus that it accurately represents the underlying economic events.

Information Is Verifiable If Two Knowledgeable and Independent People Would