Question

stock is valued at market price or cost whichever is less.'Explain the concept used in the above statement .

Answer 1

Stock is valued at market price or cost whichever is less this is based on the concept of closing stock.

Closing stock which is the end stock is generally valued at cost price or a reliable price and chosen the one which is less.

This concept is based the principle of prudence.

Answer 2

Explanation:

Stock is valued at market price or cost whichever is less this is based on the

concept of closing stock.

Closing stock which is the end stock is generally valued at cost price or a

reliable price and chosen the one which

is less.

This concept is based the principle of prudence.......

I think this will help you............