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The Conservatism Concept directs an entity to consider recognizing a liability when it is
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The Conservatism Concept directs an entity to consider recognizing a liability
when it is

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Step-by-step explanation:

The theory of conservatism is the general idea of acknowledging losses and liabilities as soon as possible when the result is unpredictable, yet only recognizing profits and assets when they are guaranteed to be earned.

User Jamleck
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