Day: March 9, 2021

A business values obsolete stock at net realisable value. 

Which accounting principle has been applied?

Select ONE answer:

1. consistency
2. going concern
3. materiality
4. prudence

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 4

1. Not correct
2. Not correct
3. Not correct
4. Correct

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