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Free service received by firm
is there any accounting treatment if free service is received by firm does it is treated as gain/profit & recognize in pl a/c ??
Replies (2)
Dr. Maintenance/overhaul expenses
Cr. Provision
If maintenance is compulsory based on past experiences.
Dr. Provision
Dr. Maintenance/overhaul expenses
This does not recognise any gain plus make a disclosure.
Free service is not of machinery and plant
from. free service I mean free consultancy
from. free service I mean free consultancy
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