WAEC Accounting 2019 Objective — Question 10
Question 10 of 50 from the West African Examinations Council (WAEC) Accounting 2019 Objective paper, with the correct answer and a full explanation.
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The concept which seeks to prevent profits from being overstated is
- A. materiality
- B. consistency
- C. prudenceCorrect
- D. periodicity
Explanation
Prudence concept states that an accountant should not count his chicks until they are in cage. This concept ensures that profit is not overstated.
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