What is the underlying concept governing the generally accepted accounting principles pertaining to recording gain contingencies

Question

amm1812

3 years ago

13

What is the underlying concept governing the generally accepted accounting principles pertaining to recording gain contingencies

?

Social Studies

1 answer:

Arturiano [62] · Answer 1 · 2022-03-14T08:06:03+03:00

The answer is "conservatism".

Conservatism refers to any political reasoning that favors convention (in the feeling of different religious, social, or broadly characterized convictions and traditions) despite outer powers for change, and is incredulous of proposition for radical social change.