Net realizable value can be defined as
A) selling price.
B) selling price less costs to complete and sell.
C) selling price plus costs to complete and sell.
D) acquisition cost plus costs to complete and sell.

Question

Quizplus · Accepted Answer

Net realizable value is the selling price less any costs that are expected to be incurred in completing the sale, such as marketing and selling expenses, delivery costs, and any discounts or rebates. Therefore, the best choice is B.

Net Realizable Value Can Be Defined as