The Goal of Reporting Realistic Figures and Never Overstating Assets

question 17

Multiple Choice

The goal of reporting realistic figures and never overstating assets or net income applies to the ________.

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

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Definitions:

Unethical Behaviour

Actions or practices that violate social norms, laws, or standards of conduct, often causing harm or disadvantage to others.

Questionable Behaviour

Actions or patterns of actions that raise doubts about morality, legality, or appropriateness, possibly leading to ethical or legal scrutiny.

Discovered

The act of finding something for the first time or uncovering information previously unknown.

Ethical Behaviour

Acting in ways consistent with societal norms and values concerning moral principles, including honesty, fairness, and integrity.