63. The full discdosure principle in the financial statement preparation is best described by which of the following? * Information about each account balance appearing in the financial statements is to be included in the notes to financial statements. Enough information should be disclosed in the financial statements so a person wishing to invest in the entity can make a profitable decision. All information related to the business and operating objectives is required to be disclosed in the financial statements. Disclosure of any financial facts significant enough to influence the judgment of an informed user.

63. The full discdosure principle in the financial statement preparation is best described by which of the following? * Information about each account balance appearing in the financial statements is to be included in the notes to financial statements. Enough information should be disclosed in the financial statements so a person wishing to invest in the entity can make a profitable decision. All information related to the business and operating objectives is required to be disclosed in the financial statements. Disclosure of any financial facts significant enough to influence the judgment of an informed user.

Auditing: A Risk Based-Approach to Conducting a Quality Audit

10th Edition

ISBN:9781305080577

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter17: Other Services Provided By Audit Firms

Section: Chapter Questions

Problem 24MCQ

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