Final answer:
The accounting concept requiring financial statements to be underpinned by objective and verifiable evidence, not beliefs or opinions, is the objective evidence concept.
Step-by-step explanation:
The accounting concept that requires financial statement information to be supported by independent, unbiased evidence other than someone's belief or opinion is known as the objective evidence concept. This concept ensures that the data presented are facts that can be verified and proven accurate. In the context of accounting, it's crucial that information is empirical, grounded in tangible evidence, and can withstand repeated observation and analysis by any observer.
When considering the veracity of financial statements, one must ask questions about the source of the information, whether the evidence supporting the data is verifiable, and if there is any bias present. An accountant must remain objective and report the findings accurately, reflecting tested and observational data that can be attributed to a cause. This approach distinguishes informative and analytical writing from argumentative writing, where fact and opinion may blend.