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
We will be happy to hear your thoughts
A. The Realization concept
B. Concept of prudence
C. Both a & b
D. The Accrual concept
Answer: Concept of prudence