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Question
This principle states that the financial statements should be prepared quickly at the end of the accounting period.
Options
Materiality
Consistency
Conservatism
Timeliness
Solution
Timeliness
Explanation:
The timeliness principle dictates that financial statements should be prepared and made available as soon as possible after the end of the accounting period. This ensures that the information is relevant and can be used effectively by stakeholders for decision-making.
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