Conservative accounting practices are those that result in reporting higher income,higher assets,and lower liabilities.Conservative accounting practices are those that result in reporting lower income,lower assets,and higher liabilities.

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Conservative accounting practices are those that result in reporting lower income, lower assets, and higher liabilities as they take a cautious approach towards recognizing revenue and assets and are more likely to recognize expenses and liabilities early.

Conservative Accounting Practices Are Those That Result in Reporting Higher