The objectivity principle:
A)Means that information is supported by independent,unbiased evidence.
B)Means that information can be based on what the preparer thinks is true.
C)Means that financial statement should contain information that is optimistic.
D)Means that a business may not recognize revenue until cash is received.
E)Means the assets acquired must be recorded at what the company paid for them.

Question

Quizplus · Accepted Answer

The objectivity principle requires financial information to be supported by independent, unbiased evidence. This helps ensure the accuracy and reliability of the information presented. It is important for financial statements to provide a clear and accurate picture of a company's financial position, and the objectivity principle helps to achieve this goal.

The Objectivity Principle