alleryStart learning →Material expenses of Rs 80,000 of last year were omitted. Charge to this year's profit?
ARs 80,000
BRs 40,000
CRs 8,000
DNil
Answer & Solution
Correct answer: D. Nil
The Rs 80,000 is corrected by restating last year's comparatives, so the current year profit or loss carries nothing for it.
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