Use the information to answer the question given.
\(\begin{array}{c|c} \text{Branch stock account (at selling price)} & D346,000 – debit \\ \text{Branch mark-up account} & D62,000 – credit \end{array}\)
The concept applied in calculating the stock figure to be included in the balance sheet at the year end is
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matching
- consistency
- prudence
- entiti