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True and fair view

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 February 2012 does non inclusion of goodwill in the balance sheet affects the creditability of statement w.r.t true and fair view?
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SOURAV GOEL

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SOURAV GOEL (Expert)
29 February 2012 As per AS-10 -Goodwill can be raised in the books only when something in money or money's worth has been paid for it.

As such if that condition meets Goodwill must be shown in Balance Sheet to present a true and Fair view.

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