Maharashtra State BoardHSC Commerce 12th Board Exam
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State Whether the Following Statement is True Or False. - Book Keeping and Accountancy

MCQ

State whether the following statement is True or False.

Closing stock is always valued at market price.

Options

  • True

  • False

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Solution

False

Explanation:
 Closing stock is valued at cost price or market price or whichever is less. So, the given statement is incorrect/false.

Concept: Effects of Adjustments-Closing Stock
  Is there an error in this question or solution?
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