Social Sciences, asked by Sweetz8100, 1 year ago

Give any two examples of uses of convention of conservatism

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Answered by Anonymous
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In accounting, the convention of conservatism, also known as the doctrine of prudence, is a policy of anticipating possible future losses but not future gains. ... In accounting, it states that when choosing between two solutions, the one that will be least likely to overstate assets and income should be selected.
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