For the financial statements to be presented in accordance with generally accepted accounting principles,the information included must:
A)embody the appropriate assertions of management.
B)be consistent,comparable and fully accurate.
C)have full and adequate disclosure of all transactions.
D)be prepared by an independent auditor.

Question

Quizplus · Accepted Answer

Management's assertions are fundamental to the preparation of financial statements in accordance with generally accepted accounting principles (GAAP), as they reflect the accuracy and completeness of the information presented.

For the Financial Statements to Be Presented in Accordance with Generally