Category: IC46 GENERAL INSURANCE ACCOUNTS PREPARATION – 25

Que. 1 : Q1) Stock in trade is to be recorded at cost or market price whichever is lower; this is based on the __________ principle.    1.  a) Materiality    2.  b) Going concern    3.  c) Prudence    4.  d) Consistency Que. 2 : Q2) Rishita’s cash book shows a credit balance of Rs.8,700 for the month of January. The balance of the […]