Multiple Choice
Walden Industries is being sued by a former employee for wrongful termination. It is probable that the company will lose the case and be ordered to pay the plaintiff a significant sum of money. If Walden fails to report this information somewhere in its financial statements, it is violating the GAAP concept of:
A) Materiality
B) Full disclosure
C) Matching
D) Cost-benefit
Correct Answer:
Verified
Correct Answer:
Verified
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