Question

Explain net realisable value under inflation accounting

Answer 1

Explanation:

Net Realisable Value (NRV) is the amount by which the estimated selling price of an asset exceeds the sum of any additional costs expected to incur during the sale of the asset. NRV has significant importance in the valuation of inventory

Answer 2

Answer:

Explanation:

Understanding Net Realizable Value (NRV)

A conservative approach means that the accountant should use the accounting method that generates less profit and does not overstate the value of assets. ... Two of the largest assets that a company may list on a balance sheet are accounts receivable and inventory