The convention of conservation is applicable: (a) in providing for discount on creditors. (b) in making provision

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The convention of conservation is applicable:

(a) in providing for discount on creditors.

(b) in making provision for bad and doubtful debts

(c) providing for depreciation.

(vi). The convention of conservation, when applied to the balance sheet, results in:

(a) understatement of assets

(b) understatement of liabilities

(c) overstatement of capital.

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Question Posted: Jul 19, 2024 07:01 PM

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The convention of conservation is applicable: (a) in providing for discount on creditors. (b) in making provision

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