Researchers are required to disclose all substantial financial interests, including those unrelated to any specific research but also those relevant to their institutional responsibilities.
Management should obtain data that isn't in the financial statements if it is required by those who use them because it wouldn't typically be gathered for internal use.
The cost-benefit concept states that costs incurred must be justified by their benefits.
Financial statement issues shouldn't cost more than what the user will gain from them. We can recognize that financial information is never available for free thanks to this principle. Therefore, only is false in terms of the cost-benefit relationship.
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