Question

Cost price or realisable value , whichever is less,is used for valuation of :

(A) Current assets

(B) Closing stock

(C) Fixed assets

(D) All assets​

Answer 1

Answer:

B part is correct............

Answer 2

Explanation:

Stock is valued at market price as Closing stock to be valued at cost or market price so whichever lower that includes rule based on theory anticipated profit is not brought with the account before actual realization.

Market will not let you unless you brought down your inventory value to the lowest and it will remain unsold.

Hope this helps u.....