Accountancy, asked by meghmajumder573, 4 months ago

According to Accounting Standard (AS-2), valuation of inventories should be done at
Multiple Choices
A. Net realizable value
B. Cost
C. Cost or net realizable value, whichever is less
D. None of these

Answers

Answered by akshithnani482

Answer:

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.

Topics discussed in this article: In this article, we cover the following topics:

Valuation of Inventories

Accounting disclosure

Comparison with ICDS

Comparison with Ind AS

Case Studies

Previous Question

Next Question

Similar questions

English, 2 months ago

Tus paintin 2. Mebraskt wrode a pointing for Albert Comprehension - 2 Think and Write 1. Do you think the deal the two brothers struck was good? Give a reason becaucal Bewamway 2. Give two reasons to show that Albrecht was grateful to Albert.- 3. Give two reasons that show Albert was a devoted brother. 4. Do you think Albert should have gone to the Academy? 5. Who do you like more between the two...