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Topic

Conservatism

Asked 2 times in EPFO over 2 years (2023–2025), peaking in 2023.
2
PYQs
1
Exams
2
Years active
2023–2025
Span
2023
Peak
1/2
Answers
📅 Full chronological timeline →

Key insights

  • Most tested in EPFO — 2 of 2 PYQs
  • Most asked in 2023
  • Recurs across 2 years (2023–2025)

Across exams

EPFO · 2

How the concept evolved

123
125
Rising — more than half its appearances (2 of 2) are since 2016.

Related concepts

Ideas UPSC tests alongside this one — keep exploring.

Sample questions

You've seen the pattern — here are a few of the actual PYQs.
EPFO2025
The principle of inventory valuation - "cost or net realisable value, whichever is lower" is based on :
  1. A Accrual Concept
  2. B Matching Concept
  3. C Money Measurement Concept
  4. D Convention of Conservatism
Answer key not yet available (pending official release)
Commerce & Accountancy › Financial Accounting
EPFO2023
The provision of long-term investment in shares is subject to wide fluctuations. A provision created against fluctuation in value of investments is based on the convention of
  1. A conservatism ✓
  2. B full disclosure
  3. C materiality
  4. D consistency
✓ Correct answer: (A)
Commerce & Accountancy › Financial Accounting

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