Multiple Choice Questions on The result of the convention of conservatism in the balance sheet would be ........ for UPSC EPFO Exam Preparation

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Multiple Choice Questions

The result of the convention of conservatism in the balance sheet would be ........

General Accounting Principles Concepts of Accounting
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    The result of the convention of conservatism in the balance sheet would be.

    Understatement of assets

    Correct Answer

    Overstatement of assets

    Incorrect Answer

    Understatement of liabilities and provision

    Incorrect Answer

    Overstatement of capital

    Incorrect Answer
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    Explanation:

    Understatement of assets

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