As per Concept of Conservatism, the accountant should provide for all possible losses, but should not anticipate income. [June 2023, 2 Marks]
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Theoretical FrameworkQuestion 4952 of 110
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True: As per Concept of Conservatism, the accountant should provide for all possible losses,
but should not anticipate income.
About This Chapter: Theoretical Framework
Paper
Paper 1: Accounting
Weightage
5-10%
Key Topics
Policies, Standards (Ind AS), Vocabulary
This chapter covers Policies, Standards (Ind AS), Vocabulary and is part of Paper 1: Accounting in the CA Foundation exam.
View Official ICAI SyllabusExam Strategy Tip
This topic carries 5-10% weightage. Focus on understanding core concepts rather than memorizing.
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