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Question: Estimated selling price less estimated cost of sales is:
a) Net Realizable Value
b) Cost of purchase
c) Cost of goods sold
d) None

Answer: (a)
Description: Estimated selling price less estimated cost of sales is known as Net Realizable Value. This is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs are unnecessary to make a sale.



Category Fundamentals of Accounting Interview Questions & Answers - Exam Mode / Learning Mode
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Question: Estimated selling price less estimated cost of sales is:
a) Net Realizable Value
b) Cost of purchase
c) Cost of goods sold
d) None

Answer:

(a)
Description: Estimated selling price less estimated cost of sales is known as Net Realizable Value. This is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs are unnecessary to make a sale. Source: CoolInterview.com



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