How do we value the shares held as stock-in trade (Current asset)?
Should we value at cost or market rate whichever is lower? or market rate only? Which AS would apply?
Also which market rate should we take? 31st of march ? or date of preparation of accounts/audit?
Jawahar and Associates Chartered Accountants
Hyderabad
CA Inter
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Interactive Media Pvt Ltd.
New Delhi
CA Inter
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CAclubindia
