Going concern principle
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 September 2012
is it necesary to value asets s on bal sheet date at net realisable value if on the date of signing audit report the business operations are discontinued or notes mentioned in this regard will be sufficient ????????????????kindly advise
10 September 2012
Yes when Going concern concept is not followed than Assets should be valued at net realisable value in case of discontinuous of business..
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