Listed Below Are Five Terms Followed by a List of Phrases

question 169

Multiple Choice

Listed below are five terms followed by a list of phrases that describe or characterize each of the terms. Match each phrase with the correct term.
-Neutrality

• A)The decision to include an amount in the financial statements.
• B)Accounting information should be unbiased.
• C)Considers the value of using information relative to cost of providing it.
• D)Important in analysis between firms.
• E)Applying the same accounting practices over time.

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Definitions:

Operational Code

A set of guidelines or principles that govern the operations, behavior, or decision-making process within an organization or system.

Ethical Situations

Scenarios that require individuals or organizations to make choices based on moral principles and values.

Principle-Based

Relating to or denoting an approach that relies on a set of guiding principles or values to dictate how something is to be done or managed.