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Department accounts ipcc
Why do we create stock reserve?
Replies (3)
because when one department sells goods to another dept t
and another dept have stock of that goods thn 1 deptt can not book profit. so we have to deduct extra profit from stock. hypotheticly if i sell cost 10000 cellphone to my mom for 12000, profit of 2000 for outsider not for me. i can not get profit from family.
Thank you so much
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