Which of the Following States That a Company Must Perform

question 22

Multiple Choice

Which of the following states that a company must perform strictly proper accounting only for items that are significant to the business's financial statements?

• A)accounting conservatism
• B)materiality concept
• C)disclosure principle
• D)consistency principle

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Definitions:

Certified Management Accountant

A professional certification for accountants and financial professionals in strategic management and financial accounting.

Certified Public Accountant

A certified status awarded to accountants who successfully complete a licensing exam and fulfill additional criteria set by the state.

Certified Internal Auditor

A certification for accountants who conduct internal audits, ensuring a company's financial operations and records adhere to laws, regulations, and standards.

Van Purchase

Refers to the acquisition of a van, categorized as a fixed asset, involving cash or credit transaction.