alleryStart learning →A Rs 5 crore plant burns in January after a 31 December year-end. At year-end it is
AWritten off to nil
BCut to scrap value
CKept at Rs 5 crore
DHeld for sale
Answer & Solution
Correct answer: C. Kept at Rs 5 crore
The fire is a non-adjusting event, so the year-end amount stays and the event is disclosed.
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