- 1 Marks
FA – May 2023 – L1 – SA – Q16 – Qualitative Characteristics of Useful Financial Information
Identifying the accounting principle that requires financial information to be supported by evidence.
Question
The accounting principle that requires financial statements information to be supported by evidence other than someone’s opinion or imagination is known as:
A. Consistency
B. Prudence
C. Accrual
D. Aggregation
E. Objectivity
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