M/s Future Ltd. Has invested
Rs. 10,000 in the shares of
Reliance Industries Ltd. Current
market value of these shares is
Rs. 10,500. Accountant of
future Ltd. Wants to show Rs.
10,509 as value of investment
in the books of accounts, which
accounting convention restricts
him from doing so?
(a) Full disclosure
(b) consistency
(c) conservatism
(d) Materiality
Answers
Explanation:
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Answer:
The accounting convention restricts him from doing so-(c) conservatism
Explanation:
Conservatism is a cultural, social, and political philosophy that seeks to sell and to maintain conventional establishments, practices, and values.
The vital tenets of conservatism may also range with regards to the way of life and civilization in which it seems.
In Western lifestyle, relying on the particular nation, conservatives are seeking to promote a number social establishments together with the nuclear circle of relatives, organized religion, the navy, property rights, and monarchy. Conservatives have a tendency to want institutions and practices that assure stability and advanced step by step.
Adherents of conservatism regularly oppose sure aspects of modernity (as an example mass way of life and secularism) and are looking for a go back to conventional values, though distinctive organizations of conservatives may additionally pick out one of a kind traditional values to hold.
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