The Accounting Convention That Is Most Responsible for the Increase

question 42

Multiple Choice

The accounting convention that is most responsible for the increase in the number of notes to financial statements is

• A)materiality.
• B)full disclosure.
• C)consistency.
• D)conservatism.

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Definitions:

Professional Boundaries

Guidelines that define the limits of a professional relationship, ensuring it remains ethical and appropriate to the context (e.g., client-worker, teacher-student).

Deontological Perspective

An ethical viewpoint that focuses on adherence to duty or rules as the basis for determining moral action.

Ethics

A set of moral principles that govern a person's behavior or the conducting of an activity, often applied in professional contexts.

Relativist Perspective

A viewpoint that suggests the value, truth, and standards of behavior can vary based on culture, society, or historical context.