6. Which of the following is Not an accounting concept? A. Materiality B. Consistency C. Inadequacy D. Going concern FINANCIAL ACCOUNTING 2/6 CONFIDENTIAL 7. "It is better to understate assets rather than overstate liabilities". State the accounting concept that describes the above statement. A. Historical cost concept B. Consistency concept C. Prudence concept D. Accrual concept 8. The following are internal users of accounting information EXCEPT A. Employee B. Manager C. Suppliers D. Owner of the business