When stock is valued at cost in one accounting period and at lower of cost and Net realizable value in another accounting period

Question

TuteeHUB · Accepted Answer

Matching Principle conflicts with Consistency principle.

TuteeHUB · Answer

Prudence Principle conflicts with Consistency Principle.

TuteeHUB · Answer

Consistency Principle conflicts with Accounting Period Assumption.

TuteeHUB · Answer

None of the above

1.	When stock is valued at cost in one accounting period and at lower of cost and Net realizable value in another accounting period
A.	Prudence Principle conflicts with Consistency Principle.
B.	Matching Principle conflicts with Consistency principle.
C.	Consistency Principle conflicts with Accounting Period Assumption.
D.	None of the above
Answer» B. Matching Principle conflicts with Consistency principle.

Discussion