+2 votes
in Class 12 by kratos

Using "lower of cost and net realisable value(Market Value)" for the purpose of inventory valuation is the implementation of which of the following concepts?

a) The going concern concept

b) The separate entity concept

c) The prudence concept

d) Matching concept

1 Answer

+5 votes
by kratos
 
Best answer

c) The prudence concept

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