AS7

Accountancy

In Example 3, without any information about the estimation of loss in the question. They have debited provisions for loss . Pls reason the above

Deborah Susaiyappan

CA Inter

★ 8K+

25-May-23 10:18

555

Answers (1)

Out of total expected loss - 30 is recognised. Balance 20 needs to be recognised by way of provision.

CA Suraj Lakhotia

Admin

25-May-23 11:25

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