alleryStart learning →Profit before a missed prior-year expense is Rs 3,00,000; the expense is Rs 30,000. Net profit after including it?
ARs 3,30,000
BRs 3,00,000
CRs 2,70,000
DRs 2,40,000
Answer & Solution
Correct answer: C. Rs 2,70,000
Prior period items normally flow through current net profit, so 3,00,000 less 30,000 gives Rs 2,70,000.
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