**Objective Question:** In accounting, why are the principles of Objectivity and Neutrality important, and how do they contribute to the reliability and impartiality of financial information presented to stakeholders? **Choices:** A) By allowing subjective judgments and biases to influence financial reporting. B) By ensuring that financial information is prepared based on factual evidence and without bias. C) By prioritizing the interests of management over those of external stakeholders. D) By disregarding the need for transparency and accuracy in financial reporting.

Objective Question: In accounting, why are the principles of Objectivity and Neutrality important, and how do they contribute to the reliability and impartiality of financial information presented to stakeholders? Choices: A) By allowing subjective judgments and biases to influence financial reporting. B) By ensuring that financial information is prepared based on factual evidence and without bias. C) By prioritizing the interests of management over those of external stakeholders. D) By disregarding the need for transparency and accuracy in financial reporting.

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter3: Internal Control Over Financial Reporting: Responsibilities Of Management And The External Auditor

Section: Chapter Questions

Problem 1CYBK

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