Home
Class 11
ACCOUNTS
Lower of cost or net relisable value is ...

Lower of cost or net relisable value is an example of

A

consistency Concept

B

Prudence (Conservatism) concept

C

Realisation Concept

D

Matching Concept.

Text Solution

Verified by Experts

The correct Answer is:
B
Prudence (Conservatism) concept
Promotional Banner

Topper's Solved these Questions

  • PROJECT WORK

    TS GREWAL|Exercise 2. Basic Accounting Terms (Objective Type Questions )|12 Videos

  • PROJECT WORK

    TS GREWAL|Exercise 3. Theory Base of Accounting, Accounting Standards and Ind-AS ( State whether the following statements are True or False ):|14 Videos

  • PROJECT WORK

    TS GREWAL|Exercise Fill in the blanks with appropriate words:|153 Videos

  • ORIGIN OF TRANSACTIONS-SOURCE DOCUMENTS AND PREPARATION OF VOUCHERS

    TS GREWAL|Exercise SHORT ANSWER TYPE QUESTIONS|5 Videos

  • PROVISIONS AND RESERVES

    TS GREWAL|Exercise VERY SHORT ANSWER TPYE QUESTIONS|13 Videos