When the owner of a business takes goods from inventory for his own personal use, which of the following accounting principles should be considered?

Items should be included in the financial statements if their omission would mislead the users of the financial statements. Which one of the following accounting principles governs this?

A business owns a non-current asset which cost $4,000 and is recorded at its carrying amount in the financial statements. Which of the following accounting principles has been applied?

Transactions are stated at the value at which they occurred and are not adjusted at the end. Which accounting principle is described by this statement?

Which qualitative characteristic of financial information can be achieved through a combination of consistency and disclosure?