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What is Objectivity Principle?

3. What is Objectivity Principle?

1. The concept that the financial statements of an organization
2. The underlying accounting principle that the dollar will remain constant across fiscal periods
3. Every business transaction requires recordation in two different accounts
4. Accounting principle for recording revenues and expenses

Answer: A) The concept that the financial statements of an organization

Explanation:

The objectivity principle is the idea that the financial reports of an association be founded on strong proof. The purpose behind this rule is to keep the supervisory group and the bookkeeping division of a substance from delivering budget reports that are skewed by their viewpoints and predispositions.