Hii waiting for answer 5. Why must companies disclose their significantaccounting policies?a) Only if required by auditorsb) To comply with tax regulationsc) To fulfill full disclosure principled) When changing accounting methods

Explanation of Full Disclosure Principle: This is a fundamental accounting concept that requires…

Answered: 5. Why must companies disclose their…

Contemporary Auditing

11th Edition

ISBN:9781337650380

Author:KNAPP

Publisher:KNAPP

Chapter1: Comprehensive Cases

Section1.2: Lehman Brothers Holdings, Inc.

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5. Why must companies disclose their significant accounting policies? a) Only if required by auditors b) To comply with tax regulations c) To fulfill full disclosure principle d) When changing accounting methods