________ is equal to estimated selling price less the estimated costs of completion and the estimated costs necessary to make the sale.

Question

Quizplus · Accepted Answer

Net Realizable Value (NRV) is the estimated selling price in the ordinary course of business, minus the estimated costs of completion and the estimated costs necessary to make the sale. This concept is used in accounting to evaluate the value of inventory and accounts receivable.

________ Is Equal to Estimated Selling Price Less the Estimated