True and fair view
This query is : Resolved
Querist : Anonymous
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?
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.
As such if that condition meets Goodwill must be shown in Balance Sheet to present a true and Fair view.
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