Accounting standard-4
This query is : Resolved
05 December 2008
if total machinery was destroyed by fire after the balance sheet date and before the board meeting and the loss was estimated . EXPLAIN WHETHER IT IS an adjusted event or not?
05 December 2008
Going concern assumption rendered invalid due to the said destruction. Hence it is an adjusting event.
05 December 2008
if it is affecting going concern only then it is adjusting event otherwise not.
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