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CA CPT Jun 2017 Question Paper Fundamentals of Accounting for online practice
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Question : 1
Total: 60
A businessman purchased goods for Rs. 25,00,000 and sold 80% of such goodsduring the accounting year ended 31st March, 2009. The market value of theremaining goods was Rs. 4,00,000. He valued the closing inventory at cost. Heviolated the concept of
Money measurement
Conservatism.
Cost.
Periodicity.
Validate
Solution:
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