Concept:Objectivity requires that accounting reports be based on verifiable facts rather than on personal opinions or bias.
Explanation:The question asks which accounting concept keeps personal opinion out of financial statements.
Under the objectivity concept, each transaction must be supported by genuine, verifiable evidence.
This evidence includes documents such as receipts, invoices, contracts, and bank statements.
Accountants must record figures based on these facts, not on what they personally think or feel.
Objectivity ensures that financial statements are reliable and can be checked independently by auditors.
Materiality relates to whether an item is significant enough to affect decisions.
Periodicity divides the life of the business into equal time periods for reporting.
Conservatism means anticipating losses and not recognising gains until they are certain.
Only objectivity directly prevents personal opinion from influencing accounting statements.
Answer:C. objectivity