ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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PRUDENCE CONCEPT Definition
PRUDENCE CONCEPT, otherwise known as conservatism, says that whenever there are alternative procedures or values, the accountant will choose the one that results in a lower profit, a lower asset value and a higher liability value.
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PIECEMEAL OPINION is an expression of an opinion on an item in financial statements that is not permitted as part of a disclaimer or adverse opinion on the financial statements as a whole because it would tend to overshadow or contradict a disclaimer of opinion or an adverse opinion.
INTERNATIONAL FUND is a (mutual) fund that can invest only outside the home country, e.g. the United States.