Business Studies, asked by MehulMakana, 3 months ago


Discuss the concept-based on the premise 'do not anticipate profits but provide for all losses.​

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Answered by shivangiroy27
2

Answer:

According to the Conservatism Principle, profits should not be anticipated; however, all losses should be accounted (irrespective whether they occurred or not). It states that profits should not be recorded until they get recognised; however, all possible losses even though they may happen rarely, should be provided.

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