Accounting · Accounting Principles
Creating a provision for bad and doubtful debts is based on which accounting convention/principle?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Convention of Materiality
- 2Convention of Full Disclosure
- 3Convention of Conservatism (Prudence)✓
- 4Convention of Consistency
Correct answer
Convention of Conservatism (Prudence)
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