The accounting convention that state that, stock sho...
The accounting convention that state that, stock should be value that the lower of cost and net realized value is --------------- convention
Marching
Consistency
Realization
Prudence
Correct answer is D
Prudence Concept or Conservatism principle is a key accounting principle which makes sure that assets and income are not overstated and provision is made for all known expenses and losses whether the amount is known for certain or just an estimation i.e expenses and liabilities are not understated in the books of account
\(\begin{array}{c|c} & \text{1/6/2011} & \text{30/5/2012}\\ & D & D \\ \hline \text{...
Adamu Stores bought accessories from Mu'azu Beverages for N400 on credit. A trade discount of 10...
A charitable club has the following figures: N Subscriptions received in 1991 2 800 Subscr...
Net turnover is referred to as ...
(i) Meet growth and diversification need. (ii) Reach out to particular customers or markets ...
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The reason for treating carriage inwards in the trading account is because ...