A

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Q. The accounting concept that prevents overstatement of assets is:

  • (A) Cost concept
  • (B) Consistency concept
  • (C) Conservatism concept
  • (D) Dual aspect concept
  • Correct Answer - Option(C)
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  • Filed under category Accounting
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Explanation by: Admin

Conservatism ensures that assets and income are not overstated.

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