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

---

Definitions:

Palm

The inner surface of the hand from the wrist to the base of the fingers, or a type of tree known for its long, flexible stems and leafy fronds.

Visual Acuity

The clarity or sharpness of vision, usually measured as the ability to discern letters or numbers at a specified distance according to a standardized chart or test.

Newborn

An infant who is within hours, days, or up to a few weeks old, particularly during the initial period immediately after birth.

20/600

A measure of visual acuity indicating that the smallest letter a person can read from a distance of 20 feet is normally visible at 600 feet.