Which of the following assets is/are to be valued at the lower of cost or net realizable value?

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Net realizable value:
Posted by:
Anayatullah Tahir
24-March-2014

(a) Goodwill.

b) Inventories.

(c) Investments

(d) Both (b) and (c) above.

Question added by Almutaz Bakry Sidahmed , Internal Audit Manager , Banan real estate
Date Posted: 2015/03/01

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5 Answers

Muhammad Ramzan Tufail ACCA

by Muhammad Ramzan Tufail ACCA , Assistant Finance Manager , Eltizam Asset Management Group

(B) is the Correct Ans.

Inventories

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by Deleted user

b) Inventories are to be valued at lower cost

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Mohammad Ismail

by Mohammad Ismail , ACCA Trainee , Zarai Taraqiati Bank Limited

B) Inventories is the correct answer.

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by aziz urrehman , key account executive , alkhair group of companies foam manufacturing

B is the ans for the Question .As per IAS-2

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Faisal Majeed - Chartered Accountant

by Faisal Majeed - Chartered Accountant , Regional Project Financial Controller , Barr + Wray FZE LLC & Barr + Wray (Hong Kong Limited)

As per IAS-2, inventories shall be measured at lower of cost of NRV

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