Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 1.inventories are valued at the lower of cost and

1.inventories are valued at the lower of cost and net realizable value in the statement...

70.2K

Verified Solution

Question

Accounting

1.inventories are valued at the lower of cost and net realizable value in the statement of financial position. which accounting concept is being applied?

(a).historic

(b).Duality

(c)matching

(d)prudence

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

The following table compares the completion percentage and interception percentage of 5 NFL quarterbacks. Completion Percentage 57...

Statistics
Q

How does quasi-experimental research differ from experimental research?

Operations Management
Q

Access the article entitled “Biofeedback: Listen to the body” written by Alexander and Steefel (1995). After...

Psychology
Q

Describe: Where the pressure and density relations are used in SIMPLE-based solutions. The need for characterizing or defining...

Mechanical Engineering
Q

In practice, an LFSR sequence would not be used as keystream for a stream cipher, due...

Advance Math
Q

In 2018, Carson is claimed as a dependent on his parents' tax return. Carson's parents provided...

Accounting
Q

20 Are the matrices A 21 14 023 027 3 3 4 4 0 2...

Algebra
Q

Simon Brothers pays $47,000 into a bond sinking fund each year to redeem the future...

Accounting
Q

4 Which of the following statements is true regarding the identifying factors used to...

Accounting
Q

Gretchen wants to take the next six years off work to travel around the world....

Accounting
Q

Dried Fruit Corp. has had a valid S Corp election in effect at all times...

Accounting
Q

Expenses incurred but not yet paid or recorded are called C. interim expenses. a. prepaid...

Accounting