Economics · Accounting Principles
Analyse the following statements regarding accounting principles and choose the correct option: 1. Accounting standards enhance comparability. 2. Prudence permits deliberate understatement of assets. 3. Consistency prohibits change in accounting policy under any circumstance. 4. Substance over form emphasises economic reality.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 11 and 4 only are correct✓
- 21, 2 and 4 only are correct
- 32 and 3 only are correct
- 41, 3 and 4 only are correct
Correct answer
1 and 4 only are correct
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