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An accountant is uncertain about the best estimate of an amount for a business transaction. If two amounts are equally likely, the amount least likely
An accountant is uncertain about the best estimate of an amount for a business transaction. If two amounts are equally likely, the amount least likely to overstate assets and income is selected. This is an example of applying the concept of
1. comparability
2. neutrality
3. conservatism
4. materiality
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