Post Utme Futo 2019 Commerce Question 2

Practice objective / multiple choice question 2 from the 2019 Post Utme Futo Commerce examination.

Post Utme Futo 2019 Commerce Objective / Multiple Choice
Question 2 POST_UTME_FUTO • 2019 • COMMERCE • objective

A firm's inventory is valued at the lower of cost or net realizable value. What is the name of this accounting principle?

Answer Options

A. Matching principle
B. Materiality principle
C. Consistency principle
Correct Answer D. Lower of cost or net realizable value principle
Correct Answer
D
Correct Option:
Lower of cost or net realizable value principle

About This Question

This is Post Utme Futo 2019 Commerce Question 2. It is one of the objective questions from the 2019 Post Utme Futo Commerce examination.

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