Question

i) As per the conservatism principle the valuation of stock is at lower of cost or net realizable value.

ii)The convention of conservatism takes all the prospective losses but leaves out prospective profits.

iii)The Dual aspect concept states the proprietor of a business is treated as External liabilities 1

a) Option (i) and (ii) is correct b) Option (iii) and (ii) is correct

c) Option (i), (ii) and (iii) is correct d) Option (i) and (iii) is correct​

Answer 1

Explanation:

here is your answer

option d) i) and ii) is correct