Question: If the entity is uncertain whether to recognize an expense or about the amount of an expense, the _________ concept encourages it to pro-actively estimate
If the entity is uncertain whether to recognize an expense or about the amount of an expense, the _________ concept encourages it to pro-actively estimate the cost and record the expense.
1. Realization
2. Matching
3. Consistency
4. Conservatism
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
