‘A Limited’ purchased goods of Rs.10,00,000, and sold 90% of goods and remaining goods market value is Rs.90,000,and closing stock is 10%, but he recorded Rs.90,000 and not Rs.1,00,000. Which concept does he follows:-

Question

Examsnet · Accepted Answer

Correct Answer is : Conservatism concept

CA CPT 2013 June Question Paper Fundamentals of Accounting for online practice