Conservatism is best described as selecting an accounting alternative that
A) understates assets and/or net income.
B) has the least favorable impact on owners' equity.
C) overstates,as opposed to understates,liabilities.
D) is least likely to mislead users of financial information.

Question

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The Answer of Conservatism is best described as selecting an accounting alternative that
A) understates assets and/or net income.
B) has the least favorable impact on owners' equity.
C) overstates,as opposed to understates,liabilities.
D) is least likely to mislead users of financial information.

Conservatism Is Best Described as Selecting an Accounting Alternative That