Question

what do you understand by concept conservatism​

Answer 1

Answer:

The conservatism principle is the general concept of recognizing expenses and liabilities as soon as possible when there is uncertainty about the outcome, but to only recognize revenues and assets when they are assured of being received.

Answer 2

Conservation is the care and protection of these resources so that they can persist for future generations. It includes maintaining diversity of species, genes, and ecosystems, as well as functions of the environment, such as nutrient cycling.

Conservation is similar to preservation, but while both relate to the protection of nature, they strive to accomplish this task in different ways. Conservation seeks the sustainable use of nature by humans, for activities such as hunting, logging, or mining, while preservation means protecting nature from human use.

Explanation:

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