Accountancy, asked by moona70, 1 year ago

Explain the conservatism concept with example.

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Answered by mukesh421

Definition: The conservatism principle is a concept that suggests a less than optimal estimate should be used when given and option. In other words, when there is an uncertain event, accountants should error on the side of caution and moderation

mukesh421: welcome

moona70: have u any example

mukesh421: no... sorry

moona70: its ok

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