Economics · Financial Accounting
'Losses are anticipated and profits are not accounted until realised' is the core definition of which accounting principle?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Full Disclosure principle
- 2Conservatism principle (Prudence)✓
- 3Comparability principle
- 4Consistency principle
Correct answer
Conservatism principle (Prudence)
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