Which of the following accounting conventions suggests that accountants should use a method of valuation that understates rather than over-states results?

By: |Published on: Dec 5|Categories: Accounting JAMB| 0 comments

A. Conservatism
B. Historical
C. Monetary
D. Cost

Correct Answer:

Option A – Conservatism

Users Also Read These:

SEE ALSO  The accounting entry to record the premium on goodwill is to debit?

Copyright warnings! Do not copy.