Section 5 in The National Commission for Minority Educational Institutions (Annual Statement of Accounts) Rules, 2006
5. Stocks. - Expenditure on purchase of chemicals, glassware, publications and other stores is accounted as revenue expenditure, except that the value of closing stocks held on 31St March is set up as inventories by reducing the corresponding Revenue Expenditure on the basis of information obtained from Departments. They are valued at cost.
