The accounting guideline prescribing that financial statement information be supported by independent,unbiased evidence other than someone's belief or opinion is the:
A)Business entity principle
B)Monetary unit principle
C)Going-concern principle
D)Objectivity principle
E)Full disclosure principle

Question

Quizplus · Accepted Answer

The principle that requires financial statement information to be supported by independent, unbiased evidence is known as the objectivity principle. This means that evidence presented in financial statements should be verifiable and based on facts rather than opinions or beliefs. The other principles listed do not relate specifically to this requirement for objective evidence.

The Accounting Guideline Prescribing That Financial Statement Information Be Supported