While examining the accounts of a company, you find the following items on credit side of profit

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While examining the accounts of a company, you find the following items on credit side of profit and loss account:

(a) Profit on revaluation of land.

(b) Bounties received from Central Government.

(c) Excess depreciation charged in the previous year now written back.

(d) Unclaimed dividend.

Would you have any objection as auditor in passing the accounts of the company? State with reasons.

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Fundamentals Of Auditing

ISBN: 9788131728857

1st Edition

Authors: Basu

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Question Posted: Feb 04, 2024 01:00 AM

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While examining the accounts of a company, you find the following items on credit side of profit

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As an auditor you would definitely have objections to the above items primarily due to their incorre...View the full answer

Fundamentals Of Auditing

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