Current Assets are disclosed in the balance sheet at _______________.

Original Cost

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Market Value

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Cost or Market Value whichever is lower

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Cost or Net Realizable Value is lower

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Solution

The correct option is C Cost or Net Realizable Value is lower
Current Assets are valued at cost or net realizable value whichever is lower. This is because of the principle of conservatism, according to this principle that all the anticipated losses are taken into account and not all the anticipated incomes. Hence, current assets are valued at cost or net realizable value whichever is lower.

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