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 Consider the following data pertaining to Alpha Ltd.:
While finalizing the annual accounts, if the company values the machinery at Rs. 12,00,000. Which of the following concepts is violated by the Alpha Ltd.?
  • a)
    Cost
  • b)
    Matching.
  • c)
    Realisation.
  • d)
    Periodicity.
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
Consider the following data pertaining to Alpha Ltd.:While finalizing ...
Option A)
Explanation:
Until the asset is realised,
The asset should be recorded in its cost price.
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Community Answer
Consider the following data pertaining to Alpha Ltd.:While finalizing ...
Here cost concept is violating because there is a principle while preparing annual accounts the market value or cost price whichever is less that should be considered and here Alfha ltd.consider market value which is more than cost value
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Consider the following data pertaining to Alpha Ltd.:While finalizing the annual accounts, if the company values the machinery at Rs. 12,00,000. Which of the following concepts is violated by the Alpha Ltd.?a)Costb)Matching.c)Realisation.d)Periodicity.Correct answer is option 'A'. Can you explain this answer?
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