Which GAAP states that recorded financial transactions must have a confirmable (provable) basis in fact? a. Objectivity

Question:

Which GAAP states that recorded financial transactions must have a confirmable (provable) basis in fact?

a. Objectivity Principle

b. Conservatism Principle

c. Matching Principle

d. Consistency Principle

GAAP
Generally Accepted Accounting Principles (GAAP) is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the...