The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

PRUDENCE CONCEPT Definition & Legal Meaning

Definition & Citations:

A principle of accounting that requires you to rcord every liability and expense as soon as it occurs but you only record the results when they are gained or at least assured to be gained.


This article contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.