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QUESTION 45 The Investment portfolio of XYZ Ltd. as on 31.03.2020 consisted of the following: (Rs. in lacs) Fair Value as on 31.03.2020 Cost 5

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QUESTION 45 The Investment portfolio of XYZ Ltd. as on 31.03.2020 consisted of the following: (Rs. in lacs) Fair Value as on 31.03.2020 Cost 5 7 (1) (2) (3) Current Investments 1000 Equity Shares of A Ltd. 500 Equity Shares of B Ltd. 1000 Equity Shares of C Ltd. 10 15 15 30 12 34 Total Give your comments on the following: (i) The company wants to value the above portfolio at Rs. 30 lakhs being lower of cost or fair market value. (ii) Company wants to transfer 1000 Equity Shares of C Ltd. from current investments to long term investments on 31.03.2020 at cost of Rs. 15 lakhs

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