Accountancy, asked by sriharsha1705, 6 months ago

A firm is following the policy of valuing the closing stock at cost price irrespective of the fact that its market value is substantially lower than the cost price. Whether the firm is correct in doing so? Justify the answer using the Accounting principle.

Answers

Answered by beingLAVANYA

1

Answer:

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Explanation:

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