[Solved] Floating assets are valued at

Floating assets are valued at

a) Cost

b) Market price

c) Cost price or market price whichever is less

d) Cost less depreciation

Answer: (c) Floating assets are valued at cost price or market price whichever is less. It is valued at Cost price or Realisable Value, whichever is less. It is based on the principle of Conservatism or prudence, according to which all anticipated losses should be recorded in the books of accounts, but all anticipated or unrealized gains should be ignored.

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