14. Mr. A purchased an asset for Rs. 75,000 but its fair value on the date of
purchase was Rs.85,000. Mr. A recorded the valu

By Anna

14. Mr. A purchased an asset for Rs. 75,000 but its fair value on the date of
purchase was Rs.85,000. Mr. A recorded the value of asset in his books at
Rs.85,000. Which of the following concept is violated?
(a) Accrual
(b) Conservatism
(c) Historical cost
(d) Materiality
11 1: lure requires that​

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