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Match the following statement with the most applicable principle: A business does a stocktake at the end of the year to verify stock levels Answer
Match the following statement with the most applicable principle:
A business does a stocktake at the end of the year to verify stock levels | Answer 1Choose...Materiality Conservatism Reliability Comparability |
Write down cost of inventory if value is much less | Answer 2Choose...Materiality Conservatism Reliability Comparability |
Non significant information need not be reported separately | Answer 3 Choose...Materiality Conservatism Reliability Comparability |
Disclosing methods used in valuing inventory Answer 3 Choose...Materiality Conservatism Reliability Comparability | |
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