What accounting concept means that financial reports include enough information to understand a...
Question:
What accounting concept means that financial reports include enough information to understand a business's financial condition?
Accounting Concepts
The accounting concepts are the fundamental accounting conventions used to determine the proper way to record transactions and prepare an entity's internal and external financial reports.
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The full disclosure concept requires that an entity's management include all the relevant information in its financial statements so that persons...
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Chapter 2 / Lesson 9Learn about accounting principles according to GAAP and IFRS. Examine the accounting principles definition, and identify who sets fundamental accounting principles.