Valuation of Trading Stock Should be Done at :

  1. Cost Price
  2. Cost price or market price whichever is less
  3. Market Price
  4. All of these
Anurag Mishra Professor Asked on 28th November 2015 in Economics.
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  • 2 Answer(s)

    Answer: (4) All of these

    Trading stock for income tax purpose includes anything produced manufactured or acquired that is held for the purposes of manufactured or acquired that is held for the purpose of manufacture, sale or exchange in the ordinary course of a business. 

    Anurag Mishra Professor Answered on 28th November 2015.
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    vijay28 Default Answered on 30th November 2015.
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