Inventory valuation on dissolution: value inventory at net realisable value even if business continues thereafter. Inventory existing on the date of dissolution of a partnership firm, association of persons or body of individuals shall be valued at its net realisable ... Summary
Inventory valuation on dissolution: value inventory at net realisable value even if business continues thereafter.
Inventory existing on the date of dissolution of a partnership firm, association of persons or body of individuals shall be valued at its net realisable value, irrespective of whether the business is discontinued or continues after dissolution.
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