A businessman purchased goods for Rs. 25, 00,000 and sold 80% of such goods during the accounting year ended 31st March 2015. The market value of the remaining goods was Rs. 4,00,000. He valued the dosing inventory at cost. He violated the concept of
A. Money measurement
B. Conservatism
C. Cost
D. Periodicity
Answer:B
A businessman purchased goods for Rs. 25, 00,000 and sold 80% of such goods during the accounting year ended 31st March 2015. The market value of the remaining goods was Rs. 4,00,000. He valued the dosing inventory at cost. He violated the concept of
A. Money measurement B. Conservatism C. Cost D. Periodicity