Asked by: Jeanmarie Surisasked in category: General Last Updated: 2nd May, 2020
What does objective evidence mean?
Herein, what is an example of objective evidence?
The term includes any statement of fact that somebody documented and based on verifiable tests, observations, or measurements. Evidence that is objective may, for example, be a test log, test report, review report, or non-conformance report. In business, the word 'objective' on its own means a company's aims or goals.
Additionally, what does it mean to be objective? being the object or goal of one's efforts or actions. not influenced by personal feelings, interpretations, or prejudice; based on facts; unbiased: an objective opinion. intent upon or dealing with things external to the mind rather than with thoughts or feelings, as a person or a book.
Just so, what is objective evidence concept in accounting?
Principle of objective evidence (or principle of objectivity) states that no accounting record should be made unless it is supported by independently verifiable (i.e., objective) evidence. Generally, such evidence is in writing or should be reduced to writing before an accounting entry is made.
What does material evidence mean?
Physical evidence (also called real evidence or material evidence) is any material object that plays some role in the matter that gave rise to the litigation, introduced as evidence in a judicial proceeding (such as a trial) to prove a fact in issue based on the object's physical characteristics.