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  2. Topic
    Business
  3. Study Set
    Australian Financial Accounting
  4. Exam
    Exam 2: The Conceptual Framework of Accounting and Its Relevance to Financial Reporting
  5. Question
    Prudence Is Exercised in the Preparation and Presentation of Financial
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Prudence Is Exercised in the Preparation and Presentation of Financial

Question 17

Question 17

True/False

Prudence is exercised in the preparation and presentation of financial statements when asset values are never shown in excess of their realisable values but could be understated,and liabilities are never to be understated.

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