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    Financial Accounting
  4. Exam
    Exam 17: The Framework of Accounting
  5. Question
    The Materiality Principle Requires That Financial Statements Should Tend to Understate
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The Materiality Principle Requires That Financial Statements Should Tend to Understate

Question 20

Question 20

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The materiality principle requires that financial statements should tend to understate rather than overstate net assets in the face of uncertainty.

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