Which among the following advocates for accounting all the prospective losses but leave aside all the prospective profits? a. Timeliness convention b. Prospective convention c. Conservatism convention d. Materiality convention
Which among the following advocates for accounting all the prospective losses but leave aside all the prospective profits? a. Timeliness convention b. Prospective convention c. Conservatism convention d. Materiality convention
Financial Reporting, Financial Statement Analysis and Valuation
8th Edition
ISBN:9781285190907
Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Chapter6: Accounting Quality
Section: Chapter Questions
Problem 14QE
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Question
Which among the following advocates for accounting all the prospective losses but leave aside all the prospective profits?
a.
Timeliness convention
b.
Prospective convention
c.
Conservatism convention
d.
Materiality convention
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