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Common Accounting Conventions include:
AEntity, Going Concern, Periodicity, Money Measurement
BRealisation, Matching, Cost, Dual Aspect
CConservatism, Consistency, Materiality, Full Disclosure
DGAAP, IFRS, Ind AS, US GAAP
Answer & Solution
Correct answer: C. Conservatism, Consistency, Materiality, Full Disclosure
1. Per OCR Conventions list (page 16): (a) Conservatism (b) Consistency (c) Materiality (d) Full disclosure.
2. Concepts include Entity, Going Concern, Periodicity, etc.
3. Distinction matters in exam-style questions.
_Source: ICMAI BoS CMA Foundation Paper 2 (FFCA) — Paper2_07042026.pdf, Module 1 §1.2.2 (page 16)_