Under the GAAP conservatism principle which of the following statements is true (Points : 3) A company should understate their income if they have an opportunity to do so When a company has a choice regarding recording a transction or event, they should choose the alternative that has the most favorable impact on net income A company should understate net income when filling out their IRS income tax forms When a company has a choice regarding recording a transction or event, they should choose the alternative that has the least favorable impact on net income A company should always record a transaction or event at historical cost because it will minimize the values on the balance sheet