Question

A purchase goods worth Rs. 1,50,000 out of which his sold goods worth Rs. 80,000 for Rs. 1,00,000. Cost of remaining stock is Rs. 70,000 and the market value of the remaining stock is Rs. 85,000. He value the stock at market price. Which of following concept has been violated by him. (a) Conservatism (b) Accrual (c) Matching (d) periodicity

Answer 1

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