Ljafinlopez Ljafinlopez
  • 01-11-2016
  • Business
contestada

What accounting concept is employed when using the lower-of-cost-or-market valuation?

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syed514
syed514 syed514
  • 03-11-2016
Answer: Conservatism dictates the lower-of-cost-or-market inventory valuation.

Conservatism is any political philosophy that favors tradition in the face of external forces for change, and is critical of proposals for radical social change.
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