Question

Que. 1. A business purchased goods for Rs 2,00.000 and sold 75% of the goods during accounting year ended
31st March, 2019. The market value of remaining goods was Rs 48.000 Hu valued closing stock at cost. While
recording he violated dash
concept
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Answer 1

Answer:

as per as 2 and Ind as 2 inventory or closing inventory should be recorded as lower of NRV or cost else it will violent concept of purdence