Concept of conservatism, The concept of conservatism is

Concept of conservatism

Reference no: EM13142023

The concept of conservatism is often considered important in accounting. The application of this concept means that in the event some doubt occurs as to how a transaction should be recorded, it should be recorded so as to

Understate income and overstate assets
Overstate income and overstate assets
Understate income and understate assets
Overstate income and understate assets

Reference no: EM13142023

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