The prudence constraint means that assets and revenues should not be understated and that liabilities and expenses should not be overstated.

Name: The prudence constraint means that assets and revenues should not be understated and that liabilities and expenses should not be overstated.
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The prudence constraint, also known as conservatism, means that assets and revenues should not be overstated, and liabilities and expenses should not be understated.

The Prudence Constraint Means That Assets and Revenues Should Not