DISCLOSURE PRINCIPLE Definition

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DISCLOSURE PRINCIPLE states that any and all information that affects the full understanding of a companys financial statements must be include with the financial statements. Some items may not affect the ledger accounts directly. These would be included in the form of accompanying notes. Examples of such items are outstanding lawsuits, tax disputes, and company takeovers.

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CFC is Controlled Foreign Corporation.

ARTICULATION, in business, is the shape or manner in which things come together and a connection is made. In the spoken word, it is expressing in coherent verbal form.

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