While generally accepted accounting principles do allow flexibility,standards of _________,________,and ________ must always prevail in the financial statements.
A)subjectivity;integrity;validation
B)objectivity;integrity;judgement
C)recording;reporting;accounting
D)quality;excellence;and judgement

Question

Quizplus · Accepted Answer

Generally accepted accounting principles allow some flexibility in how financial statements are prepared, but there are standards that must always be followed to ensure the statements are accurate and useful. Objectivity means that financial statements should be based on facts and verifiable data, integrity means that the statements should be honest and complete, and judgement involves making informed and reasonable decisions about how to present the information. These three standards are essential for reliable financial reporting.

While Generally Accepted Accounting Principles Do Allow Flexibility,standards of _________,________,And

While Generally Accepted Accounting Principles Do Allow Flexibility,standards of _,,And