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Why bringing appreciation into account would go against the prudence concept?
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An account which is offset against another account is?
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Reasons of rupee appreciation against dollar?
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How is prudence applied?
prudence could be applied to any judgment, the more difficult tasks, which distinguish a person as prudent, are those in which various goods have to be weighed against each other, as when a person is determining what would be best to give charitable donations, or how to punish a child so as to prevent repeating an offense.
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The moral principle is involve when a car driver who is involve in an accident is changed reckless in prudence causing damage of property?
Recklessness may constitute an offense against property.
Does accounting concepts conflict?
Accruals and prudenceThe accruals concept requires future income (e.g. in relation to credit sales) to be accrued. The prudence concept dictates that caution should be exercised, so that if there is doubt about the subsequent receipt, no accrual should be made.Consistency and prudenceIf circumstances change, prudence may conflict with the consistency concept, which requires the same treatment year after year.In both situations, prudence must prevail.
