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If no information is available, the General Rule for valuation of stock for balance sheet is?

<p><span>a- Replacement Cost </span></p> <p><span>b- Realizable Value</span></p> <p><span><span>c- Historical Cost </span></span></p> <p><span><span>d- Standard Cost</span></span></p> <p> </p>

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Question ajoutée par Divyesh Patel , Assistant Professional Officer- Treasury , City Of Cape Town
Date de publication: 2015/01/04
georgei assi
par georgei assi , مدير حسابات , المجموعة السورية

The correct answer answer B

  Realizable value

samir baddour
par samir baddour , Manager Corporate Finance , Baniyas Investments and Development Company

B

Basit Ali
par Basit Ali , Director of Engineering , Laverda Suites & Villas / Blue Bay Resorts

Option B

Mohammed Salim Allana
par Mohammed Salim Allana , Compliance and Assurance Manager , United Arab Bank

Agreed with Champs

 

B. Realizable / current market value of an asset.

Utilisateur supprimé
par Utilisateur supprimé

c- Historical Cost

 

 

Is consistent with the logic in the absence of modern information

Alex Al Yazouri
par Alex Al Yazouri , General Manager , Al Mushref Cooperative Society

b- Realizable Value

Utilisateur supprimé
par Utilisateur supprimé

It's option B. For all other options you require information.

Utilisateur supprimé
par Utilisateur supprimé

According to IAS -2 inventory is valued at lower of cost net realizable value. The concept comes from Prudence and it requires exercising degree of caution under condition of uncertainty.

So according to law it should be recorded in such a manner

Expected Selling Price - Expected conversion Cost - Expected Selling Cost = Inventory Value

 

 

 

 

Mohamed wagih EL-Badry
par Mohamed wagih EL-Badry , Financial Controller , Concept Combined General Trading & Contracting Co.

According to Conservatism approach Answer B)

The market price will not be more than NRV (Ceiling)

Ahmed Mohamed Refaei Mohamed
par Ahmed Mohamed Refaei Mohamed , General accountant , غانم ديزاين / مصنع تيب وود

D

FITAH MOHAMED
par FITAH MOHAMED , Financial Manager , FUEL AND ENERGY CO for transportion petroleum materials

b->>>>>>>>>> Realizable Value

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