question 1

When an accountant is faced with two (2) acceptable alternatives for reporting an amount, the accounting guideline/principle/constraint that directs the accountant to select and report the amount that will result in less profit, less assets, or less liabilities is __________.

question 2

The accrual-basis of accounting, which requires companies to report expenses that were incurred even though the expenses were not yet paid, is based on the __________ principle.