Accounting · Accounting Concepts and Principles
Which accounting concept/principle forms the basis for disclosing contingent liabilities as a footnote in the Balance Sheet?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Full Disclosure convention✓
- 2Consistency concept
- 3Materiality convention
- 4Objectivity concept
Correct answer
Full Disclosure convention
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