Answer:
The correct answer to the following question will be "Faithful Representation and Relevance".
Explanation:
- Relevance is the idea that somehow the data produced by the billing system should affect the judgment-making of somebody who is reading the details. The definition can include the quality and/or completeness of the details, which both may have an impact on decision-making.
- Faithful accounting or representation is the principle of the creation of financial reports that accurately represent the state of the corporation. For eg, if a company announces from its income statement that it would have $1,200,000 in accounts payable at the end of September, the number should, therefore, have been available on that day.
Therefore, it will be the right answer.
