Accountancy, asked by pk8235876, 1 month ago

Q4. Discuss the convention of Prudence.

Answers

Answered by aryadwivedi10

12

Answer:

Prudence principle is the rule of becoming carefulness. ... As per prudence principle, we should make and record all estimated future loss and forget all estimated future gains. By doing this, we have to make the provisions for future losses. For example, there is the risk of defaulting the some debtors.

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