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MCQ 3- 8th Question
Accountancy
The question is-Following events occured at D Ltd between 1st Jan 2017 and 30th June 2017. FY 17 ended on Mar 31, 2017 and Board Meeting to approve accounts was scheduled on June 30th 2017. IDentify the events correctly. Amount of Rs 3 Lacs wrongly debited to Debtor Account when it should have been debited to Marketing Expenses. Event occured on March 31st and the financials were finalised as such and it was detected on May 30th The given answer is Ordinary Event for FY17. Isn't this an adjusting event, since the event(detection of an arror) happened after the balance sheet date and before the approval of FS? Video Details ------------- P1 - Accounting Standards - CA Inter AS 5 #12. MCQ Test 3 - AS 5
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