[Solved] Which of the following statements is true?

Q.	Which of the following statements is true?
A.	Going Concern Concept assumes that business will be carried on for a definite period
B.	The Capital Losses need not be deducted to ascertain net income
C.	Provision for bad and doubtful debts is created in recognition of conservatism concept
D.	Materiality concept states that all business transactions are to be recorded however insignificant they may be
Answer» C. Provision for bad and doubtful debts is created in recognition of conservatism concept

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