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The lower of cost or net realizable value rule is an application of? a) Matching principle b) Monetary unit assumption c) Going concern concept d) Conservatism principle

The lower of cost or net realizable value rule is an application of? a) Matching principle b) Monetary unit assumption c) Going concern concept d) Conservatism principle

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity
Section: Chapter Questions
Problem 11GI
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The lower of cost or net realizable value rule is an application of? a) Matching principle b) Monetary unit assumption c) Going concern concept d) Conservatism principle
Transcribed Image Text:The lower of cost or net realizable value rule is an application of? a) Matching principle b) Monetary unit assumption c) Going concern concept d) Conservatism principle
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