At what value is the closing stock valued
Or
Stock is valued on
A. Cost price
B. Market value
C. Cost price or market price, whichever is less
D. Cost price or market price, whichever is higher
Answer: Option C
Related Questions on Costing
Basic objective of cost accounting is ________
A. tax compliance.
B. financial audit.
C. cost ascertainment.
D. profit analysis.
Process costing is suitable for ________.
A. hospitals
B. oil refing firms
C. transport firms
D. brick laying firms
The cost which is to be incurred even when a business unit is closed is a _____.
A. imputed cost
B. historical cost
C. sunk cost
D. shutdown cost
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