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Cost of Machinery : ₹ 10,00,000 Installation Charges : ₹ 1,00,000Market value on 31.3.2019: ₹ 12,00,000While finalizing the accounts, if the company values the machinery at ₹ 12,00,000. Which concept is violated by the company? |
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Answer» historical cost CONCEPT (take whichever is LOWEST MV>cost)Explanation: |
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