MyQuestionIcon

3

You visited us 3 times! Enjoying our articles? Unlock Full Access!

Conservatism Concept

According to ...

Question

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

A

timeliness

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

conservatism

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

C

consistency

No worries! We‘ve got your back. Try BYJU‘S free classes today!

D

materiality

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

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.

Suggest Corrections

thumbs-up

0

Similar questions

Q. According to money measurement concept, the following will be recorded in the books of account_________________.

Q. According to Money measurement concept, the following will be recorded in the books of accounts.

Q. According to the Money Measurement concept, the following will be recorded in the books of Accounts __________________.

Q. According to money measurement concept which of the following will be recorded in the books of account?

Q. According to money measurement concept, which of the following will be recorded in the books of accounts?

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

GAAP and Basic Accounting Concepts

ACCOUNTANCY

Watch in App

explore_more_icon

Explore more

Conservatism Concept

Standard XI Accountancy

Join BYJU'S Learning Program

CrossIcon