Multiple choice

The __________ concept requires that accounting transaction should be free from bias of accountants and others.

  1. materiality

  2. objectivity

  3. prudence

  4. full disclosure

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The objectivity concept requires that accounting data be based on objective evidence and facts rather than personal opinions or biases. This ensures that the financial statements are verifiable and reliable for all users.

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