Which of the following most closely describes the meaning of prudence, as the term is defined in the IASB’s Framework for the Preparation and Presentation of Financial Statements? A The use of a degree of caution in making estimates required under conditions of uncertainty. B Ensuring that accounting records and financial statements are free from material error. C Understating assets and gains and overstating liabilities and losses. D Ensuring that financial statements comply with all accounting standards and legal requirements. A |