If management has presented the actual economic events and situation according to the accounting standards, then there is a high degree of correspondence between the underlying evidence and the resulting financial statements.

Question

Quizplus · Accepted Answer

If management presents the actual economic events and situation according to the accounting standards, then the financial statements should accurately reflect those events and situation, resulting in a high degree of correspondence between the underlying evidence and the financial statements.

If Management Has Presented the Actual Economic Events and Situation