1
Question
In financial statements, adequate disclosure is ensured by companies as per the requirements of.
I. Management policies
II. Materiality concept
III. Disclosure concept
IV. Relevant provision of the Companies Act
V. Internal control
Of these statements.
In financial statements, adequate disclosure is ensured by companies as per the requirements of.
I. Management policies
II. Materiality concept
III. Disclosure concept
IV. Relevant provision of the Companies Act
V. Internal control
Of these statements.
Open in App
Solution
The correct option is D II, III and IV are correct
Materiality Principle or materiality concept is the accounting principle that concern about the relevance of information, and the size and nature of transactions that report in the financial statements. The full disclosure concept is an accounting principle that requires management to report all relevant information about the company's operations to creditors and investors in the financial statements and footnotes.
This clause corresponds to section 173 of the Companies Act, 1956 and seeks to provide that a statement setting out all the material facts concerning each item of special business to be transacted at a general meeting, shall be annexed to the notice calling such meeting.
Materiality Principle or materiality concept is the accounting principle that concern about the relevance of information, and the size and nature of transactions that report in the financial statements.
The full disclosure concept is an accounting principle that requires management to report all relevant information about the company's operations to creditors and investors in the financial statements and footnotes.
This clause corresponds to section 173 of the Companies Act, 1956 and seeks to provide that a statement setting out all the material facts concerning each item of special business to be transacted at a general meeting, shall be annexed to the notice calling such meeting.
Suggest Corrections
0
Similar questions