Conservative accounting practices are those that result in reporting lower income,lower assets,and higher liabilities.

Name: Conservative accounting practices are those that result in reporting lower income,lower assets,and higher liabilities.
Brand: Quizplus
Rating: 4.7 (49 reviews)

Question

Quizplus · Accepted Answer

Conservative accounting practices follow the principle of "better safe than sorry" and tend to result in reporting lower income, lower assets, and higher liabilities to provide a more realistic and cautious outlook on the company's financial health.

Conservative Accounting Practices Are Those That Result in Reporting Lower