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The statement "Anticipate no profit and provide for all possible losses" reflects the accounting convention of conservatism. This convention suggests that when faced with uncertainty, accountants should be cautious and conservative in recognizing profits, but quick to recognize potential losses. This helps in presenting a more prudent and reliable picture of a company's financial position and performance.
What is the significance of the Indian Air Force Heritage Centre inaugurated by Defence Minister Rajnath Singh in Chandigarh?
According to ICRA, what is the expected revenue growth for Indian apparel exporters in FY25?
The Reserve Bank of India (RBI) has charged the Non-Banking Finance Company (NBFC) L&T Finance with _________ for failing to notify the change in the pe...
Which organization recently launched the 'Ammunition Cum Torpedo Cum Missile Barge, LSAM 20 (Yard 130)' for the Indian Navy?
India’s first agri chatbot Ama KrushAI launched in Which state?
How many Vande Bharat Sleeper coaches will the Indo-Russian joint venture supply to Indian Railways?
When did the RBI lift the supervisory restrictions on Navi Finserv?
REC Limited has signed an MoU with the ________ to jointly finance projects in the power, infrastructure, and logistics sectors over the next three year...
Which country recently (Dec 2024) joined the International Solar Alliance (ISA)?
How long is the feedback window under RBI’s new consultative regulation framework?