📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    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.

    Practice Next
    More ESIC Part B Questions

    Relevant for Exams:

    ask-question