MCQs > Finance & Management > Accounting Principles > What is the reporting objective that calls for the anticipation of all losses incurred but defers the recognition of gains or profits until they are realized in arm's length transactions?

Accounting Principles MCQs

What is the reporting objective that calls for the anticipation of all losses incurred but defers the recognition of gains or profits until they are realized in arm's length transactions?

Answer

Correct Answer: Conservatism

Explanation:

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