Accountancy, asked by suruchi1121, 1 year ago

"Anticipate no profit and provide for all possible losses."Explain??

Answers

Answered by ashagupta010pa1lre

This Accounting Concept is called Prudence Concept. We should be conservative in recording the asset but should not underestimate the liabilities. This is to ensure that users of the financial statements are not misled.

Previous Question

Next Question

Similar questions

Biology, 6 months ago

Find the correct match a) Oemods - Transport along the gradient b) Neutral solutes - Transported by simple diffusion across the membrane c) Polar molecules - Transported by simple diffusion without carrier (A) a and b (B) a and (C) bandc (D) a.bandc...

Computer Science, 6 months ago

Microsoft word 2010 countes the text per page as:...

Math, 6 months ago

In polygon BO=7x+4 and OD=18.FIND x ...

Social Sciences, 1 year ago

भारत पर प्रथम विश्व युद्ध का क्या प्रभाव पड़ा point vise in hindi 5 points minimum...

Geography, 1 year ago

hii frnds pls tell the andwer of this question..... .... Give me the advantages of babool tree on mango trees ... fast.. ..

Business Studies, 1 year ago

if hotel management i've chosen then what are chances to become rich...

English, 1 year ago

create slogans of your own which focus on conservation of our environment.

English, 1 year ago

You want to get to know a new classmate .Ask some questions about them and tell them something about yourself. write a dialogue in 150--200 words subject Alternative English.friends answer me fst I'm urgent needed help me guys...