Objectivity example sentences

The concept of objectivity requires that accounting transaction should be recorded in an objective manner, free from the bias of accountants and others.Adoption of historical cost brings in objectivity in recording as the cost of acquisition is easily verifiable from the purchase documents.One of the reasons for the adoption of 'Historical Cost' as the basis of recording accounting transaction is that adherence to the principle of objectivity is made possible by it.While using psychological tests an attitude of objectivity, scientific orientation, and standardised interpretation must be kept in mind.Not only that, the market value may vary from person to person and from place to place, and so 'objectivity' cannot be maintained if such value is adopted for accounting purposes.This approach to understanding others may be influenced by a number of factors that may colour our judgement and reduce objectivity.This brings in objectivity in the process of recording and makes the accounting statements more acceptable to various users.Use of rating scales may further enhance the objectivity of evaluations.