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.
B
You might also like to view...
The Children's Advertising Review Unit (CARU) of the Council of Better Business Bureaus (CBBB) investigates and monitors all forms of advertising in all media directed toward children younger than 18 years of age
Indicate whether the statement is true or false
Which of the following would most likely help Gail prevent post-sale problems?
A) sending e-mails to other university groups referred to her by the client B) scheduling regular account reviews to assess the client's satisfaction C) asking the client to call her assistant with any questions D) submitting bills quickly to insure quick payment E) re-defining her service and product strategy
Stephen Covey's book The Seven Habits of Highly Effective People ____ the attainment of goals through ethical principles
A) emphasize B) emphasizes
International strategies are characterized by increased international standardization of products and services.
Answer the following statement true (T) or false (F)