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What is prudence concept?

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Question ajoutée par Shan Ibrahim , Audit Senior , RSMI Avais Hyder Liaquat Nauman Chartered Accountants
Date de publication: 2016/01/06
Muhammad Saeed
par Muhammad Saeed , Experienced Associate Auditor (Secondment) , Deloitte and Touche (Middle East)

Under prudence concept we make it sure while recognizing revenue and expenses that they would not be overstated and understated respectively and in the same manner do not overstate assets and understate liabilities.

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