What Is the Rule,which Requires a Business to Realign the Books

question 11

Multiple Choice

What is the rule,which requires a business to realign the books when it finds itself in a situation where the book value of inventory is greater than its market value?

• A) The rule of 'lower of cost or market'
• B) The rule of market to book
• C) The rule of 'higher of cost or market'
• D) None of these

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United States

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