A businessman purchased goods for Rs. 25,00,000 and sold 70% of such goods during the accounting year ended 31st March, 2005. The market value of the remaining goods was Rs. 5,00,000. He valued the closing stock at Rs. 5,00,000 and not at Rs. 7,50,000 due to

A businessman purchased goods for Rs. 25,00,000 and sold 70% of such goods during the accounting yea….

Tagged: CA Foundation, Final Practice (New Scheme), Law, Arts, Commerce

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04/25/2019 at 2:39 pm #618136 Reply
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A businessman purchased goods for Rs. 25,00,000 and sold 70% of such goods during the accounting year ended 31^st March, 2005. The market value of the remaining goods was Rs. 5,00,000. He valued the closing stock at Rs. 5,00,000 and not at Rs. 7,50,000 due to
Options :-
1. money measurement concept
2. conservatism concept
3. cost concept
4. periodicity concept
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