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WAEC Financial Accounting 2017 Question 15

Question 15

Accounting Concepts and Conventions

The accounting concept that provides that accounting statements should not be influenced by personal opinion is

  1. A.materiality.
  2. B.periodicity.
  3. C.objectivity.
  4. D.conservatism.
Show the answer and explanation

Answer: C (objectivity.)

Explanation

Objectivity requires figures backed by evidence, not personal opinion.