Discuss why the concept of full disclosure is difficult to apply.

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Expert Solution

The accounting reports must disclose all facts that may influence the judgment of an informed reader. Usually this is a judgment decision for the accountant to make. Because of the complexity of many businesses and the increased expectations of the public, the full disclosure concept has become one of the most difficult concepts for the accountant to apply.

Accountants decide what to disclose in reports, balancing complexity and public expectations, a challenging task.

Junaid answered 6 months ago

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