Expensing the cost of copy paper when the paper is acquired is an example expense recognition industry practices conservatism materiality Question 10 2 pts What is accounting conservatism? Recognizing revenue when earned and realized Understating assets and net income Recognizing the option that is least likely to overstate assets and liabilities When in doubt, recognizing the option that is least likely to overstate assets and income Question 11 2 pts The account "Cash" had no beginning balance and the following changes: increase of $500, decrease of $10, increase of $200 and a decrease of $90. The final balance is a: Debit balance of $700. Credit balance of $100. Credit balance of $600 Debit balance of $600