if a company have huge stock of stationery and consumables how it is treated in books of company and does it is recorded as assets if yes under which head of assets?
note - this stationery and consumables are not held for sale
I think if you are using it for office use then you booked it as an expense & once you booked it as an expense it will not carry forward for next year .
Till date I really have never heard that it can be fix the life of books or registers or pen pencils either if it is not your business
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