Question
As per accounting standards, inventory is to be valued
at cost or net realizable value. Which of the accounting principle forms the basis of this standard?ÂSolution
According to the Conservatism (Prudence) principle, expected losses should be recorded but gains should not. Hence, inventory is valued at lower of cost or net realizable value to avoid overstating assets.
When will India host the 5th Coast Guard Global Summit (CGGS)?Â
The Tamil Nadu Assured Pension Scheme (TAPS) provides an assured pension of:Â
What title was adopted by Chandragupta II?Â
- Which Indian bank has partnered with Chennai Super Kings (CSK) to launch a co-branded credit card for cricket enthusiasts?
Who topped the Bloomberg World’s Richest Families 2024 list?
To whom is ICICI Bank selling a 19% stake in ICICI Merchant Services Private Limited?
How much financial assistance will Uttar Pradesh provide to pilgrims of the Kailash Mansarovar Yatra?Â
Which Indian state will be declared the first extreme poverty-free state on November 1, 2025?Â
Jal Jeevan Mission, launched in August 2019, aims to provide safe and adequate drinking water through individual tap connections to all households in r...
Where was the Fourth Buddhist Council convened?
