Home
Class 11
ACCOUNTS
Closing stock in valued at Cost or Net R...

Closing stock in valued at Cost or Net Realisable value (Market Value) , whichever is less because of

A

Going concern concept

B

Accrual Concept

C

Prudece concept

D

Consistenct concept

Text Solution

Verified by Experts

The correct Answer is:
C
NA
Promotional Banner

Topper's Solved these Questions

  • ADJUSTMENTS IN PREPARATION OF FINANCIAL STATEMENTS

    TS GREWAL|Exercise Short answer type questions|38 Videos

  • ADJUSTMENTS IN PREPARATION OF FINANCIAL STATEMENTS

    TS GREWAL|Exercise Practical Problems|18 Videos

  • ADJUSTMENTS IN PREPARATION OF FINANCIAL STATEMENTS

    TS GREWAL|Exercise Very Short answer type|36 Videos

  • ACCOUNTS FROM INCOMPLETE RECORDS-SINGLE ENTRY SYSTEM

    TS GREWAL|Exercise EVALUATION QUESTIONS WITH NISSING VALUES|1 Videos

  • BANK RECONCILIATION STATEMENT

    TS GREWAL|Exercise EVALUATION QUESTIONS : QUESTIONS WITH MISSING VALUES|8 Videos

Similar Questions

Explore conceptually related problems

Face value and market value

TS GREWAL-ADJUSTMENTS IN PREPARATION OF FINANCIAL STATEMENTS -Multiple Choice Questions MCQ
  1. Salaries and Wages Account is shown in

    Text Solution

    |

  2. Closing stock in valued at

    Text Solution

    |

  3. Closing stock in valued at Cost or Net Realisable value (Market Value)...

    Text Solution

    |

  4. Closing Stock, if given outside the Trial Balance is shown in

    Text Solution

    |

  5. Prepaid Expanses are

    Text Solution

    |

  6. Prepaid expanses, if given outside the trial Balance is shown in

    Text Solution

    |

  7. Prepaid Expanses, if given in the Trial Balance is shown in .

    Text Solution

    |

  8. Prepaid Expansese are deducted from the expense because of

    Text Solution

    |

  9. Unearned Income is

    Text Solution

    |

  10. Income received in advance, if given outside the trial Balance is show...

    Text Solution

    |

  11. Income Received in advance, if given in the Trial Balance is shown in

    Text Solution

    |

  12. Income received in advance is deducted from the income because of

    Text Solution

    |

  13. Income Receivable (Accrued Income) is

    Text Solution

    |

  14. Accrued Income, if given outside the Trial Balance is shown in

    Text Solution

    |

  15. Accrued Income, if given in the Trial Balance is shown in

    Text Solution

    |

  16. Accrued Income is added to the income because of

    Text Solution

    |

  17. Insurance Premium paid during the year is Rs 10,000 and Opening Prepai...

    Text Solution

    |

  18. Insurance premium paid during the year is Rs10,000 and prepaid insuran...

    Text Solution

    |

  19. Balance sheet is prepared to know

    Text Solution

    |

  20. Trading Account is prepared to know

    Text Solution

    |