CameraIcon

SearchIcon

MyQuestionIcon

411

You visited us 411 times! Enjoying our articles? Unlock Full Access!

Functions of Money

Valuing the s...

Question

Valuing the stock in trade at market price or cost price which is less is an example of the convention of _______.

A

Consistency

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

Disclosure

No worries! We‘ve got your back. Try BYJU‘S free classes today!

C

Knowing the value

No worries! We‘ve got your back. Try BYJU‘S free classes today!

D

None of the Above

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

Solution

The correct option is D None of the Above
Stock valuation on market price or cost price whichever is less based on the "conservatism concept", which defines that all expected losses should be recorded in books of account.

Suggest Corrections

thumbs-up

0

Similar questions

Q. Valuing the stock in trade at market price or cost price, whichever is less, is an example of the convention of ___________.

Q. Closing stock is valued at cost price or market price whichever is less.

Q. The application of principle 'for stock valuation at cost price or market price, whichever is lower' will result in the valuation of stock sometimes at cost price and at other times at market price which is an application of the principle of ____________.

Q. In stock valuation, application of the principle 'at cost price or market price whichever is lower' will result in the valuation of stock sometimes at cost price and at other times at market price. This is an application of the principle of __________.

Q. In stock variation, application of the principle 'at cost price or market price, whichever is lower' will result in the valuation of stock sometimes at cost price and at other times are market price. This is an application of the principle of _____________________.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Functions of Money

ECONOMICS

Watch in App

explore_more_icon

Explore more

Functions of Money

Standard XII Economics

Join BYJU'S Learning Program

CrossIcon