AS-2 stands for______(Revenue Recognition, Valuation of Inventories, Disclosure ofAccounting Policies)
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AS 2 – Valuation of Inventories. This accounting standard is applicable to all companies irrespective of their level (Level I, II and III). ... It explains the different methods of accounting the inventory or closing stock which has a huge impact on the business revenue and the assets.
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AS: Valuation of Inventories
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