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    • Question

      Making provision for doubtful debts is as per ……

      convention 
      A Consistency Correct Answer Incorrect Answer
      B Disclosure Correct Answer Incorrect Answer
      C Conservatism Correct Answer Incorrect Answer
      D Materiality Correct Answer Incorrect Answer

      Solution

      According to  Convention of conservatism , you should record expenses and liabilities as soon as possible, but to record revenues and assets only when you are sure that they will occur.

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