Question:

Match List I with List II
LIST I LIST II
A.Focus should be on material information and resources of the enterprises 
should not be spent on recording and reporting of immaterial information
I.Going concern
B.Loss of stock is recognised in the period in which it occursII.Materiality
C.Assets are not shown at their current realisable valueIII.Prudence
D.Valuation of closing stock at cost or market value whichever is lowerIV.Matching principle
Choose the most appropriate answer from the options given below:

Updated On: Jun 22, 2024
  • A-I, B-III. C-IV, D-II
  • A-II, B-I, C-IV, D-III
  • A-II, B-IV, C-I, D-III
  • A-I, B-II, C-IV, D-III
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The Correct Option is C

Solution and Explanation

The correct option is (C):A-II, B-IV, C-I, D-III
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