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AS - 2 "Valuation of Inventories"
Accountancy
answered on 12-Mar-22 16:23
As per AS -2 "Valuation of Inventories" , Inventory should be valued at lower of __________ whichever is lower. 1. Cost and NRV 2. Cost or NRV Which is correct ? I think option 1 is right , but in the ICAI CA Inter study material , in some areas it is written as "Cost or NRV". Kindly clarify and I hope it is not an irrelevant question. Thanks in advance.
latest answer
No option 2 is correct ..cost or nrv whichever is lower
Avasarala Vivek Aditya
CA Inter
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2
608
Minor
Indirect Taxation
answered on 12-Mar-22 18:12
Can a minor get its business registered under gst
latest answer
Yes if he has obtained PAN.
Gauri Shete
CA Final
★ 5K+
1
519
Preparation
Maths & Stats
answered on 12-Mar-22 21:13
How many days are needed for math to study
latest answer
I think he is trying to say about saving time while you solve sums...we have only 2hrs for 100 Marks so try to skip unwanted steps try to solve sums using short cuts and option test which results in saving time
Agilasri Agila
CA Foundation
★ 890
11
459
Study Planner
Others
answered on 12-Mar-22 07:23
When will indigo learn upload a SFM & FR related Study planner ?
latest answer
SFM by month end. FR only after the course is fully launched
Chandu vadla
CA Final
★ 11K+
1
459
doubt
Others
answered on 13-Mar-22 10:53
who is the moderator who answers the questions sir .bcz sometimes the faculty answers and sometimes the moderator. so whose answers are the final answers
latest answer
Have you found a case where the answers inconsistent - usually that is not the case Whose ever answer is the last that is final.
Devi Kiran
CA Inter
★ 0
1
417
marginal costing
Costing
answered on 15-Mar-22 11:38
illust 50: 3 and 4th quz can we solve by adding desired profit + fixedcost and divide by p/v ratio.later divide the answer with sp. bt the units answer differs by 5 rs is it ok.
latest answer
You can do. Small rounding offs difference will be there
Devi Kiran
CA Inter
★ 0
2
400
Depreciation
Accountancy
answered on 12-Mar-22 14:08
So can you say me logic of this journal entry that is why machinery account is debited to machinery disposal account. So one assumption is that, asset is going out so in journal entry we credit machinery account but my doubt is that,Is machinery disposal account is asset account? In case If we debit it would likely be asset or expense right or is it liability that is decreased? Please justify me
latest answer
For better understanding see this
Sugam SM
CA Final
★ 9K+
4
753
Articleship
Others
answered on 11-Mar-22 20:18
Sir now that all big 4 have declared vacancies for articles. will there still be vacancies after may 2022 attempt?
latest answer
ok thank you sir
AKSHITA SITA PRAVA
CA Final
★ 590
2
431
Depreciation
Accountancy
answered on 14-Mar-22 11:42
How 907200 come into Accounts as balance c/d is 972000
latest answer
Yes.
Sugam SM
CA Final
★ 9K+
16
623
marginal costing
Costing
answered on 15-Mar-22 11:32
in illustration 47.last sub quz to find sp when bep is reduced by 4000. u hav solved by taking sales = cost. in cost for VC dey hv taken rs.200*75% i,e 150. my doubt is since we hve to find revised SP how can we take for VC old sp only.
latest answer
We have to find revised selling price if BEP bought down by 4000 units. Variable cost and fixed cost already given in the question. With that cost structure, we have to find revised selling price.
Devi Kiran
CA Inter
★ 0
3
447