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WAEC Financial Accounting 2025 Question 43

Question 43

Accounting Concepts and Conventions

The accounting concept which underlies providing for doubtful debt is

  1. A.materiality concept.
  2. B.duality concept.
  3. C.entity concept.
  4. D.prudence concept.
Show the answer and explanation

Answer: D (prudence concept.)

Explanation

Prudence requires likely losses to be provided for.