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On 24th March 2017 a fire …

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On 24th March 2017 a fire broke out in the premises of fire workers Limited and destroyed a part of its plant and machinery on account of his a sharp decline in production for the next 6 month expected the company did not disclose the fact in its annual report for the year ending 31st March 2017? A. What is opinion about his omission B. Name the concept evaluated her C. Explain the concept

Posted by Pushpraj Singh 6 years, 10 months ago

CBSE > Class 11 > Accountancy

1 answers

Rajat Sharma 6 years, 10 months ago

A.) It is wrong. B.) convention of full disclosure. C.) It states that all sort of information which is of material fact to the users of financial statement should be disclosed properly by the way of food notes.

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