Home / 
Conversion of Partnership to Company: Business Continues, Stock Valued at Lower Cost or Market Price.
X X X X Extracts X X X X
X X X X Extracts X X X X
....Conversion of partnership firm into company versus dissolution of firm - Going concern - there was no cessation of business and therefore the closing stock had to be valued at cost or market price, whichever is lower. - AT....
TaxTMI
TaxTMI