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capital goods

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(Querist)
17 April 2009 whethet ball bearing is capital goods or not ? i m doing audit of atul auto limited.
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HUZAIFA HUSSAIN

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HUZAIFA HUSSAIN (Expert)
17 April 2009 It depends on the nature of the business of the client. If u r doing audit for atul auto limited just find out whether the company do trading in ball bearing or use it as a spares but in either case it is trading goods or consumables but not capital good.
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
19 April 2009 Agree with experts, stock in trade are not capital goods
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