The Full Disclosure Principle

Multiple Choice

The full disclosure principle:

A) Means that accounting information reflects a presumption that the business will continue operating instead of being closed or sold.
B) Prescribes that a company record the expenses it incurred to generate the revenue reported.
C) Prescribes that a company report the details behind financial statements that would impact users' decisions.
D) Prescribes that accounting information is based on actual cost.
E) Provides guidance on when a company must recognize revenue.