The accounting convention of means selecting the method of measurement that yields the gloomiest immediate results.
A) conservatism
B) materiality
C) objectivity
D) cost benefit

Question

Quizplus · Accepted Answer

The conservatism principle in accounting suggests that when faced with uncertainty, accountants should choose the method that results in lower profits or asset valuations, thus presenting the gloomiest immediate results.

The Accounting Convention of Means Selecting the Method of Measurement