Under ASPE, the Characteristic Which Ensures That When Preparing Financial

question 8

Multiple Choice

Under ASPE, the characteristic which ensures that when preparing financial statements, accountants should choose the accounting treatment or estimate that will be least likely to overstate assets, revenues and gains and the least likely to understate liabilities, expenses and losses is

• A) conservatism.
• B) understandability.
• C) comparability.
• D) relevance.

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