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Question Practice

Which of the following best describes the concept of 'prudence' in accounting?

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MCQ_SA
CBSE
Class 11
Accountancy
Financial Accounting - I
Depreciation, Provisions and Reserves
Question Bank

Which of the following best de...

Single Answer MCQ
Q-00054373

Which of the following best describes the concept of 'prudence' in accounting?

1

Recording all possible profits

2

Understating revenues

3

Being cautious with profits and losses reporting

4

Overstating expenses

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