In uncertain circumstances, the conservatism principle guides accountants to
A. accelerate revenue recognition and delay expense recognition.
B.accelerate expense recognition and delay revenue recognition.
C. recognize expense of prepaid items when payment is made.
D. delay both expense recognition and revenue recognition.
Answer:B
In uncertain circumstances, the conservatism principle guides accountants to
A. accelerate revenue recognition and delay expense recognition. B.accelerate expense recognition and delay revenue recognition. C. recognize expense of prepaid items when payment is made. D. delay both expense recognition and revenue recognition.