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In this answer why closing stock is valued at net realizable value because generally closing stock is valued at cost on net realizable value whichever is lower

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subramanyam yendakuarthi

subramanyam yendakuarthi

CA Inter

3K+

19-Nov-20 13:53

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Answers (3)

Best Answer

When going concern assumption is not valid, everything is at net realisable value. As the intention is to close the business.


Suraj Lakhotia

Suraj Lakhotia

Admin

19-Nov-20 15:17

When going concern assumption is not valid, everything is at net realisable value. As the intention is to close the business.

Sir in this question why deferred expense are written off full at one time only


subramanyam yendakuarthi

subramanyam yendakuarthi

CA Inter

3K+

21-Nov-20 21:04

If not a going concern, no benefit in future.


Suraj Lakhotia

Suraj Lakhotia

Admin

22-Nov-20 08:20

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