Feasibility of Accounting Principles in Practice
Understanding the statement that general acceptance of any accounting principle depends on its feasibility can be illustrated with a practical example in accounting. Let's consider the principle of conservatism.

Conservatism Principle
The conservatism principle dictates that when faced with uncertainty, accountants should choose the option that is least likely to overstate assets and income. This principle ensures that financial statements are not overly optimistic and reflect a more realistic picture of a company's financial position.

Practical Example
Imagine a company is deciding whether to recognize revenue from a long-term project that is still in progress. According to the conservatism principle, if there is uncertainty about the collectability of the revenue or completion of the project, the company should err on the side of caution and delay recognizing the revenue until the uncertainty is resolved.

Feasibility Consideration
In practice, the feasibility of applying the conservatism principle depends on various factors such as the company's industry, regulatory requirements, and management's judgment. If the company operates in a highly volatile industry where uncertainties are common, applying the conservatism principle may be more feasible and widely accepted.

Conclusion
Therefore, general acceptance of accounting principles like conservatism is contingent on their feasibility in real-world scenarios. Accountants and financial professionals must carefully assess the practicality of applying these principles in different contexts to ensure the reliability and relevance of financial information.