Valuation of stock in accounting follows the principle of cost price or ____ whichever is lower.

Related MCQs

• Goods are sent to branch at cost plus 20%. If closing stock of the branch is Rs 60,000 at invoice price, Rs ______ will be credited to stock reserve a/c.
• HO sends goods to branch at invoice price after adding 25% on cost price, so profit would be ___ % of invoice price
• Historical cost concept requires the valuation of an asset at
• While putting the value or price of an entity in financial records the lowest price is recorded not the current price or current market value. This is known as
• H.O. sent goods to branch at invoice price 50% plus on original price. How many percentage of profit will be on Invoice price?
• The Market price of good declined than the cost price. Then the concept that plays a key role is ____
• H.O. has sent goods on invoice price worth Rs 2,40,000 which are 25% above cost price. What is the loading element?
• The adjusting entry for difference between the invoice price and cost price of goods are shown in ________
• Which accounting concept specifies the practice of crediting closing stock to the trading account?
• ____________ account is prepared to adjust the loads included in the value of opening stock and closing stock.