The other side of the coin is that the financial statements must disclose all material facts. For

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The other side of the coin is that the financial statements must disclose all material facts. For example, if a large fraction of a company’s inventory is found to be worthless, the m concept requires that this fact be recorded in the accounts.

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Essentials Of Accounting

ISBN: 9780273771463

11th International Edition

Authors: Leslie K. Breitner

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