The full disclosure principle: Muttiple Chioise Provides guidance on when a company must recognize revenue. Prescribes that a company record the expenses it incurred to generate the revenue reported Means that accounting informption refiects a presumption that the business will continue operating instead of being ciosed or soid. Prescribes that a company report the detals behind financiat statements that would impoct users decisions Prescribes that accounting information is based on actual cost