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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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