Question

Why Closing Stock is valued at cost price or realisable value whichever is lower?

Answer 1

Answer:

It is valued at Cost price or Realisable Value, whichever is less. It is based on the principle of Conservatism or prudence, According to which all anticipated losses should be recorded in the books of accounts, but all anticipated or unrealized gains should be ignored.

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Answer 2

Answer:

this is the answer

Explanation:

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