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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 Money Measurement Concept.
Define the term GAAP.
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.
With reference to the concept of accounting only those transactions are recorded in accounts which can be expressed in terms of money. Justify either for or against.
Explain 'Matching Concept' of GAAP.
Explain the money measurement principle of accounting.
Explain The Dual Aspect Principle.
Explain the complete disclosure principle.
Explain the realisation principle.
