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    Question

    Using 'lower of cost and net realisable value' for the

    purpose of inventory valuation is the implementation of which of the following concepts?
    A The going concern concept Correct Answer Incorrect Answer
    B The separate entity concept Correct Answer Incorrect Answer
    C The prudence concept Correct Answer Incorrect Answer
    D Matching concept Correct Answer Incorrect Answer

    Solution

    The correct answer is C

    Practice Next

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