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Fr rtp final doubt
Dear friends, in fr rtp it is mentioned that equity shares held as short term investments are to b valued at cost. But is it not cost or nrv whichever is lower? ?,
Replies (3)
Cost or NRV which ever is lower is applicable on Inventory. in your case since it is short term investment therefore cost or NRV condition not applicable on short term Investment.
as per as 13 short term investments must be valued at cost or nrv whichever is lower long term investments at cost
Thanks for the clarifications
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