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Small cpt accounts doubt?
A businessman purchased goods for 6 lakhs and in d next year the market value of those goods are 5 lakhs but he has not valued closing stock at market price.He has violated the concept of?
a. conservatism
b. cost
reply please. ..
Replies (3)
Thanks. .thats what I was thinking but was confused. .
a. conservatism should be the answer
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