Question

The Accounting concept that refers to the tendency of accountants to resolve uncertainty and doubt in favour of understating assets and revenue and overstating liabilities and expenses is known as​

Answer 1

Answer:

Conservatism

Explanation:

The convention of conservatism mean that the convention of caution, or the policy of playing safe. This principle requires that in the situation of uncertainty and doubt, the business transactions should be recorded in such a manner that the profits and assets are not overstated and losses and liabilities are not understated.