Using quot lower of cost and net realisable value quot for the purpose of inventory valuation of the...........

General Accounting Principles Concepts of Accounting

Using "lower of cost and net realisable value" for the purpose of inventory valuation of the implementation which of the following concept?

The Going concern concept

The Separate Entity

The Prudence concept

Matching concept

Prudence or Conservatism concept states that do not overestimate the amount of revenues recognized or underestimate the amount of expenses.

Submit Error

I think expaination is wrong kindly check

Ankur sharma

thank you very much will rectify