Which of the Following Describes the Prudence Constraint

question 50

Multiple Choice

Which of the following describes the prudence constraint?

• A)Avoid overstating assets and revenues and avoid understating expenses and liabilities.
• B)The benefits of accounting for and reporting information should outweigh the costs.
• C)Amounts that are large enough to influence a user's decisions.
• D)Differences due to long-standing and accepted accounting and reporting in a particular industry.

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