alleryStart learning →If the Board feels some assets will not realise their stated value, it must
AChange the year end
BAppoint a valuer
CWrite off all assets
DState that fact
Answer & Solution
Correct answer: D. State that fact
Where in the Board's opinion assets other than fixed assets and non-current investments would not realise their stated value, that opinion must be stated.
Keep practising Schedule III Division I Financial Statements
Browse all Schedule III Division I Financial Statements questions for CA Inter, or explore more Accounting topics.
Related questions
Subsidiaries not consolidated must be listed along withTransactions unrecorded in books but surrendered as income in tax assessments are shown asExport earnings in foreign exchange are disclosed on which basis?Imports must be disclosed on which valuation basis?A trading company discloses, under broad heads, itsA manufacturing company reports raw materials underDisclosure of CSR expenditure applies to companies covered underA separate item threshold is 1% of revenue or Rs 1,00,000, whichever is higher. For Rs 5 c