Accountancy, asked by ranabirchoudhury96, 29 days ago

what is meant by'verification of assets? how does it differ from valuation? discuss the importance of both verification and valuation​

Answers

Answered by mrsanjusingh78
1

Answer:

Verification proves the existence, ownership and title of assets. Valuation certifies the correct value of asset. Vouching is done after original entry in the books of accounts. Verification and valuation are done at the end of the financial year.

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