Framework chapter

Accountancy

Liabilities are recorded at the undiscounted amount of cash expected to be paid on settlement of liability in the normal course of business under: (a) Present value. (b) Realizable value (c) Current cost. ICAI mat answer given is (b) How & why

Sushmita Chowdhury

CA Inter

★ 0

31-Dec-22 21:45

514

Answers (1)

Settlement value is the realisable value for a liability

CA Suraj Lakhotia

Admin

31-Dec-22 22:43