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Guest
Guest
(Querist)
29 December 2015
what is the difference between prudence and conservatism concepts?
Amol S Joglekar
(Expert)
29 December 2015
conservatism is about booking anticipated expenses even though not incurred, but not booking anticipated income unless realised.
Prudence is being rational and judgemental for each of above expenses as well as income.
Prudence is being rational and judgemental for each of above expenses as well as income.
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