The Convention of Conservatism takes into account
A) All prospective profits and prospective losses.
B) All prospective profits and leaves out prospective losses.
C) All prospective losses but leaves out prospective profit.
D) None of these.
Correct Answer:
Verified
Q16: The comparison of the results of one
Q17: According to this convention, important items must
Q18: XYZ Ltd. follows the written down value
Q19: The Accounting Standards Board was established in
Q20: The total number of accounting standards issued
Q22: According to the money measurement concept, the
Q23: Double Entry System was introduced in-
A)America
B)Japan
C)India
D)Italy
Q24: The International Accounting Standards Committee was set
Q25: The underlying assumption that assumes that the
Q26: The primary objective of the matching principle
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