Accountancy, asked by Nicey3952, 1 year ago

Why take closing stock value whichever is less

Answers

Answered by piyushinsan77

2

Answer:Please mark answer as brainliest answer if answer is helpful.

Explanation:

Stock is always value at cost or NRV (Net realisable value whichever is lower. This is in accordance with Principle of conservatism or Prudence.

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