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Byju's Answer
Standard XI
Accountancy
Conservatism Concept
According to ...
Question

According to concept, all expected losses should be recorded in the books of account.

A
timeliness
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B
conservatism
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C
consistency
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D
materiality
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Solution

The correct option is B conservatism
According to conservatism concept, all expected losses should be recorded and all expected gains should be ignored in the books of account.

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