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Q. What is Net realizable value?
Companies must not carry goods in inventory at more than their net realizable value. Net realizable value is the approximate selling price of an item less the estimated costs that the company incurs in preparing the item for sale and selling it. Obsolete, Damaged or shopworn goods often have a net realizable value lower than their historical cost and must be written down to their net realizable value. But goods don't have to be obsolete, damaged or shopworn for this situation to occur.
Technological changes as well as increased competition have caused significant reductions in selling prices for such products as DVD players, computers, TVs and digital cameras.
dividend received rs 100was posted to debit to dividend account. the rectification entry n will be what?
solutions for chapter 8
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Assume we are selling a device for 6000 and the company need to replace that device with a new device which is a bit more than the prior price say 7000.Then,how we can account this
Q. Financial accounting standards boards conceptual framework? Experts have discussed the exact nature of the basic concepts and related principles composing accounting theory
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Received and paid the telephone bill for $231 including GST
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Ask question Discuss the export financing under the deferred payment system.#Minimum 100 words accepted#
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