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AS 5
Accountancy
In first imge they treated it as a prior period In second image they treated it as exceptional item The question is some what same way in both cases there is uncertainty in collection at the time Why ??? Please reply ...
Answers (4)
ruchi lahoti
As per the second image, it was assumed that collectability of claim was un certain in earlier periods. Hence, cannot be a prior period item.
If we take such assumption in first image then it will also be not treated as prior period item ?? Can I write like that in exam
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