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ICDS II (Income Computation and Disclosure Standards II) focuses on providing guidelines for the valuation of inventories. Inventories refer to goods held by a business for the purpose of resale, production, or consumption. This standard ensures that inventories are valued appropriately in a consistent manner to reflect their true economic value. Proper valuation of inventories is crucial for determining accurate profits and financial positions in a business. The standard outlines principles and methods for determining the cost of inventories, including factors such as purchase cost, production cost, and overhead allocation. This helps in maintaining consistency and transparency in financial reporting across different businesses.
Muhammad-bin Tughluq transferred his capital from Delhi to Devgiri (which he named Daulatabad) because
Who was responsible for the destruction of Vikramashila, one of the three major Buddhist monasteries in India during the Pala Empire?
Begum Hazrat Mahal was the consort of which Nawab of Awadh?
Who organized second Buddhist council?
During which ruler's reign did Pietra dura, the art of inlaying colored stones into marble, gain popularity?
hIn which year was the Battle of Plassey fought?
Who declared the revolt of 1857 as a ‘national revolt’ in the House of Commons?
Bindusara, an ancient emperor of India, was part of which empire?
The son of Shah Jahan , who studied the New Testament, the writings of the Muslim suns, the Vedanta philosophy, Upaniahadas, etc. and sought to find a m...
The first Sultan to adopt the principle of measurement of cultivable land for determining the land revenue was
