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    5. Valuing closing stock at cost or market value, whichever is lower, is in accordance with which accou

    Question

    Valuing closing stock at cost or market value,

    whichever is lower, is in accordance with which accounting concept?
    A Money Measurement Concept Correct Answer Incorrect Answer
    B Full Disclosure Concept Correct Answer Incorrect Answer
    C Conservatism Concept Correct Answer Incorrect Answer
    D Revenue Recognition (Realization) Concept Correct Answer Incorrect Answer

    Solution

    The correct answer is C

    Practice Next
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