A and B are starting business . A is of the view that all factors which influence the decision of users should be shown in financial statements. A is following which accounting principle?
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Understanding financial statements
Balance sheet. The balance sheet is so called because it always balances according to this relation: Assets = Liabilities + Owners' equity. ...
Profit-and-loss statement. As its name suggests, the P&L statement tells you about the profitability of a company. ...
Cash-flow statement.
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