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प्रश्न
Accounts should disclose all material information (with reference to the concept of accounting). Justify either for or against by giving two reasons.
Accounts should disclose all material information. Give two reasons either for or against.
उत्तर
For:
Accounts should disclose all material information. The full disclosure principle requires it. Secondly accounts are true and fair when all material information is disclosed.
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संबंधित प्रश्न
Explain the concept of The Dual Aspect Principle.
Define the term GAAP.
______ is the language of business.
This concept assumes that the business will continue to exist for a long time in the future.
According to this principle, accounts should be prepared in such a way that all the material information required by users of financial statements is clearly disclosed.
Name the basic principles of accounting.
Explain 'Matching Concept' of GAAP.
Explain The Dual Aspect Principle.
Explain the complete disclosure principle.
Name any four concepts of GAAP.
