Entries in accounting records and data reported in financial statements must be based on objectively...........

Principles of Accounting & Financial Management Concepts of Accounting

Entries in accounting records and data reported in financial statements must be based on objectively determined evidence.

Money measurement concept

Cost concept

dual aspect concept

Objective evidence concept

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Explanation:

Objective evidence is evidence that we base on provable facts. In other words, we can prove the facts by measurement, analysis, and observation. It is possible to evaluate and examine objective evidence. It means the same as ‘compelling evidence.’
If the evidence is objective, it is irrefutable. If somebody has objective evidence that the law of gravity is true, it means that they have proved it.

Choosing not to believe compelling proof about the law of gravity does not make it false. Therefore, if I jump out of a third-floor window, I am still going to fall.