O-LevelAccountingAccounting principles and policies7707/11 · May/June 2022 · Q351 Mark

Which accounting policy requires that the information in financial statements is free from significant errors and bias?

Acomparability

Bconsistency

Creliability

Dunderstandability

✓ Correct answer

C: reliability

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Topic: Accounting principles and policies, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2022 Paper 1 Variant 1, question 35.

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