Article vs principal;

CA Rakesh Goenka (CA & CS) (872 Points)

12 April 2012  

Article trainee (anxiously) to his CA boss: Sir my chair is creaking and I fear it might break. What to do?
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Boss: Well first check if it stil shows WDV in the books.If it does, then there may be a need to create a permanent diminution in respect thereof. See AS 6 and AS 10 compliance. Alternatively I think there is need to depreciate it at higher rate will help tide over the liquidity crisis we're currently facing. Moreover...
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Article (interrupting): Sir I'll prefer falling down and breaking my bones. Thanks..:P:D