JAMB Accounting 2019 Objective — Question 29

Question 29 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2019 Objective paper, with the correct answer and a full explanation.

The concept that has much influence over asset valuation and income determination is

A. matching
B. conservatismCorrect
C. entity
D. realization

Explanation

Conservatism (prudence) has significant influence over asset valuation and income determination, guiding accountants to avoid overstating assets/income.

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