BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The Full Disclosure Principle states that all relevant and necessary information for the understanding of a company’s financial statements must be included in public company filings.

Detailed explanation-2: -Where Are Generally Accepted Accounting Principles (GAAP) Used? GAAP is a set of procedures and guidelines used by companies to prepare their financial statements and other accounting disclosures.

Detailed explanation-3: -Which principle/guideline directs a company to show all the expenses related to its revenues of a specified period even if the expenses were not paid in that period? * The Right answer is Matching. while The cost principle requires the accountant to show assets and expenses at cost rather than at higher amounts.

Detailed explanation-4: -Full disclosure principle refers to the concept that suggests that a business should report all the necessary information in their financial statements, so that the users who are able to read the financial information are in a better position to make important decisions regarding the company.

Detailed explanation-5: -Under the full disclosure principle, a business is required to disclose all information that relates to the function of its financial statements in notes accompanying the statements. This principle helps ensure stockholders and investors are not misled by any aspect of the financial reports.