Counting the actual physical inventory of a company would be an example of the:
A) objectivity principle (verifiability).
B) entity concept.
C) going-concern concept.
D) stable monetary unit concept.

Question

Quizplus · Accepted Answer

Counting the actual physical inventory is an example of the objectivity principle (verifiability) because it involves obtaining evidence through direct physical measurement, which is verifiable and objective.

Counting the Actual Physical Inventory of a Company Would Be