(A) Overstatement of Assets (X)
(B) Understatement of Assets ()
(C) Overstatement of Liabilities (X)
(D) Understatement of Liabilities (X)
Answers: The concept of conservatism will have the effect of Understatement of Assets.
(A) Overstatement of Assets (X)
(B) Understatement of Assets ()
(C) Overstatement of Liabilities (X)
(D) Understatement of Liabilities (X)
Answers: The concept of conservatism will have the effect of Understatement of Assets.
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