CameraIcon
CameraIcon
SearchIcon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

Closing Stock Is Always Valued At Market Price. (True/False)


A
True
No worries! We‘ve got your back. Try BYJU‘S free classes today!
B
False
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
Open in App
Solution

The correct option is B False

Closing stock is always valued at cost price or market price whichever is less. It is based on the principle of Conservatism.


flag
Suggest Corrections
thumbs-up
5
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
GAAP and Basic Accounting Concepts
ACCOUNTANCY
Watch in App
Join BYJU'S Learning Program
CrossIcon