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The accounting principle that requires financial statements to report all relevant information about the operations and financial condition of a company is called?
Wiki User
∙ 9y ago
Full Disclosure Principle
Wiki User
∙ 9y ago
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Is the adequate disclosure accounting concept is applied when financial statements contain all information necessary to understand a business's financial condition?
yes, yes it is
What are financial reports that summarize the financial condition and operations of a business?
Financial statements are financial reports which summarize the financial condition and operations of a business. Included in a financial statement are a balance sheet, income statement, and also a cash flow statement.
Accounting information users need reports about the economic activities and condition of businesses?
yes
Purpose of accounting?
The purpose of the financial statements is to provide a factual information and fair view information regarding the state of the financial condition and operating results of the business and should display cleary the financial information for the intented parties not to be misled with their judgments and decisions.
When could the information operations condition infocon have a significant impact on system availability?
At Level 1
When could the information operations condition INFOCON have a significant impact on sytem availability?
at level 1
What is adequate disclosure concept?
it states that all relevant and material events affecting the financial condition or position of a business and the results of its operations must be communicated to users of financial statements
How does a review differ from an audit particularly in terms of the level of assurance implied by the auditor's report?
An audit of historical financial statements is a form of attestation service in which the auditor issue a written report expressing an opinion about whether the financial statements are in material conformity with generally accepted accounting principles. When presenting information in the form of financial statements, the client makes various assertions about its financial condition and results of operations. External users who rely on those financial statements to make business decisions look the auditor's report as an indication of the statements' reliability. They value the auditor's assurance because of the auditor's independence from the client and knowledge of financial statement reporting matters. A review of historical financial statements is another type of attestation service performed by CPAs. Whereas audit provides a high level of assurance, a review service provides a moderate amount of assurance on the financial statements, and less evidence is necessary to support this level of assurance.
Basic function of accounting?
to keep a set of books for business with an information system that provides reports to users about the economic activities and condition of a business.
What is if statement in c language?
first i would like to tell about if . if is keyword in c language . if is check the condition(expression) .if the expression is non zero value the condition is true .it will the go through the fallowing operations .other wise the condition is failed. if(expression) { } if the expression is >0 ,<0 these statements are execute inside the if statement. if the expression is =0 condition is failed.
CAO and CMO are conducted during offensive and defensive operations to set the condition for which type of operations?
stability operations
Can doctors make false statements about the patient and condition?
It is illegal for a doctor to make false statements about a patient's condition. This could result in a lawsuit as well as loss of their medical license.
