O-LevelAccountingAccounting principles and policiesOct/Nov 2022Paper 1 Q341 Mark
What does the principle of prudence ensure?
AAssets are not understated.
BLiabilities are not estimated.
CLosses are not anticipated.
DProfits are not overstated.
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The correct answer is D. This question tests the candidate's understanding of accounting principles and policies within the Accountingsyllabus. The examiner's mark scheme requires...
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