PRUDENCE CONCEPT Definition

Bookmark and Share

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.

Learn new Accounting Terms

CAPITAL, in economics, can mean: factories, machines, and other man-made inputs into a production process. In finance, capital is money and other property of a corporation or other enterprise used in transacting the business.

PLEDGE BOND see PLEDGED REVENUES.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.