Question

Which statement is not correct?
Accounting information should be
O free from bias and personal
judgment.
O
Inventory should be valued at higher
of cost or net realizable value.
O
In cash basis there is no
outstanding or prepaid expenses.
O
Accounting Standard 9 deals with
Revenue Recognition.​

Answer 1

Answer:

. inventory should be valued at higher of cost or net Realization value is false