Q. ___ States that “anticipate no profits but provide for all possible losses”.
A. The Realization concept
B. Concept of prudence
C. Both a & b
D. The Accrual concept
Answer: Concept of prudence
A. The Realization concept
B. Concept of prudence
C. Both a & b
D. The Accrual concept
Answer: Concept of prudence
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