Question

9. ___ method is recognised
under AS 2.​

Answer 1

Answer:

Step-by-step explanation:

This accounting standard is applicable to all companies irrespective of their level (Level I, II and III). This standard prescribes the accounting treatment for inventories and sets the guidelines to determine the value at which the inventories are carried in the financial statements.

It explains the different methods of accounting the inventory or closing stock which has a huge impact on the business revenue and the assets.

Answer 2

Answer:

Net Realisable Value is the value that can be obtained on the sale of the asset less the costs incurred for completing as well as making such a sale. In other words, it is the selling price of inventory in the normal course of business less the approximate cost associated with completion and sale of such inventory.