1. Companies present sufficient financial information so the creditors and reasonably prudent investor will not be misled. 2. Companies listed on the philippine stock exchange report audited financial information annually and report unaudited information quarterly. Choices: a. Full disclosure principle b. Time period assumption c. Materiality constraint d. Cost Principle e. Revenue recognition principle f. Conservatism Constraint g. Matching principle h. Economic entity assumption i. Monetary unit j. Going concern k. Some other answers
1. Companies present sufficient financial information so the creditors and reasonably prudent investor will not be misled. 2. Companies listed on the philippine stock exchange report audited financial information annually and report unaudited information quarterly. Choices: a. Full disclosure principle b. Time period assumption c. Materiality constraint d. Cost Principle e. Revenue recognition principle f. Conservatism Constraint g. Matching principle h. Economic entity assumption i. Monetary unit j. Going concern k. Some other answers
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter2: Financial Reporting: Its Conceptual Framework
Section: Chapter Questions
Problem 6MC
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1. Companies present sufficient financial information so the creditors and reasonably prudent investor will not be misled.
2. Companies listed on the philippine stock exchange report audited financial information annually and report unaudited information quarterly.
Choices:
a. Full disclosure principle
b. Time period assumption
c. Materiality constraint
d. Cost Principle
e. Revenue recognition principle
f. Conservatism Constraint
g. Matching principle
h. Economic entity assumption
i. Monetary unit
j. Going concern
k. Some other answers
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