Using 'lower of cost and net realisable value' for the purpose of inventory valuation is the implementation of which of the following concepts?

Using 'lower of cost and net realisable value' for the purpose of inventory valuation is the implementation of which of the following concepts? Correct Answer The prudence concept

A cash book with cash bank and discount column is commonly referred as The prudence concept. Under the prudence concept, do not overestimate the amount of revenues recognized or underestimate the amount of expenses.
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