Solved

The Four Main Accounting Principles for Financial Reporting Established in SSAP

Question 21

Multiple Choice

The four main accounting principles for Financial Reporting established in SSAP 2 "Accounting Concepts" (1971) are:


A) Going Concern, Accruals, Consistency and Prudence
B) Relevance, Reliability, Comparability and Understandability
C) Going Concern, Relevance, Consistency and Comparability
D) Accruals, Prudence, Reliability and Understandability

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q16: Which of the following concepts suggests that

Q17: The four main objectives of the "Statement

Q18: Which of the following statements is correct?<br>A)

Q19: Which accounting concept is associated with recording

Q20: Which of the following is false?<br>A) A

Q22: Which fundamental accounting concept stipulates that revenues

Q23: Published financial statements are aimed at a

Q24: If a business starts the year with

Q25: Public financial statements are produced specifically in

Q26: Which of the following statements is false?<br>A)