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FS
Question Practice

Which accounting convention states that inventory should be valued at the lower of cost or market price?

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MCQ_SA
CBSE
Class 12
Accountancy
Accountancy Part - II
Financial Statements of a Company
Question Bank

Which accounting convention st...

Single Answer MCQ
Q-00082613

Which accounting convention states that inventory should be valued at the lower of cost or market price?

1

Consistency principle

2

Conservatism convention

3

Materiality principle

4

Historical cost principle

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