Teaching UGC NET Mock Test Series 2025 (Paper 1 & 2) Accounting and Auditing Financial Statements Analysis Indian Accounting Standards and IFRS
Which of the following are key features of prudent accounting concepts and conventions?
(A) It includes revenues and profits in the accounts when they are realised.
(B) It prevents profits from being overstated.
(C) It prevents a trader from more withdrawing from the business than is wise.
(D) Managerial efficiency and expertise.
(E) Good customer relations.
Choose the most appropriate answer from the options given below:
1
(C), (D) and (E) only
2
(A), (D) and (E) only
3
(B), (C), and (D) only
4
(A), (B) and (C) only